March 01
2021
Anjum Shabbir
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15th January 2020
Banking & Finance Competition & State Aid

Sale of Piraeus Bank’s subsidiary to Eurobank not in breach of State aid rules

The Commission has found that there is no breach of State aid rules in the sale of Piraeus Bank’s Bulgarian subsidiary to Eurobank in June 2019. The Greek bank had committed to sell foreign subsidiaries further to Commission State aid decisions of 2015 by that same year.

The Commission acknowledges the delay but found it not to be detrimental to the compatibility of the aid granted by Greece for the restructuring of Piraeus Bank in 2015, and that there was no other non-compliance with other State aid commitments.

You can read the Commission’s press release today for more information.

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