AFGRI to acquire stake in Bank of Athens

Leading agricultural services and food processing company AFGRI has announced the potential acquisition of the National Bank of Greece Group’s stake in the South African Bank of Athens.

Chris Venter (pictured), AFGRI CEO, said:

"AFGRI values the support of clients, depositors and banking partners of the Bank of Athens and commits to continue to provide the service excellence they are accustomed to. We are impressed with the strides Bank of Athens has made in specialised banking offerings especially as these pertain to the application of technology and innovative solutions."

Venter added that the acquisition provides an additional retail and alliance banking platform to current and prospective AFGRI customers, where deposit taking and lending is possible. In this way it enables AFGRI to continue with its focus of innovation and an enabler to food security, he said.

The Transaction is subject to customary closing conditions, including, regulatory approvals from the South African Reserve Bank, the South African Minister of Finance and the South African Competition Authorities.