The National Bank of Greece, a leading institution in the country, scans possibilities for an aggressive extension of its activities on the Balkans, namely in Bulgaria and Romania

The National Bank of Greece, a leading institution in the country, scans possibilities for an aggressive extension of its activities on the Balkans, namely in Bulgaria and Romania, according to Greek media. The accent will be put on the presence of the Greek financial institution, country's largest lender in terms of assets, in Romania where it plans to double its network, the bank's Chief Executive Takis Arapoglou was quoted as saying to journalists. "We will try to acquire banks in Romania and Turkey that will give us a good presence, a strong depositor base and an extended network," Arapoglou said, adding that the bank will not overpay for any acquisitions. The top banker went on to note that it aims to further cut its staff over the next three years. In Bulgaria where it has a well-positioned affiliate - the United Bulgarian Bank, the National Bank of Greece plans to launch two new insurance companies.