National Bank of Greece on Tuesday announced that New York Community Bancorp Inc. will acquire Atlantic Bank of New York, its wholly-owned subsidiary in the US, for 400 million dollars in cash.

The transaction is expected to be completed in the first quarter of 2006. Atlantic Bank, based in Manhattan, NY, has assets totalling 3.0 billion US dollars, deposits of 1.8 billion and operates a branch network of 17 units in Manhattan, Queens, Brooklyn, and Nassau and Westchester Counties.

Source: Athens News Agency

^
top

print this page   send this page