The merger of Postbank and DZI Bank will create a leading financial institution in Bulgaria with more than 280 branches, managing close to 10% of the local market, the management of the two banks said.

“Our primary objective is to make the combined bank one of the top 3 financial groups in Bulgaria in the next three years”, Anthony Hasiotis, CEO of Postbank and DZI Bank, said at a meeting on the integration of the two financial institutions.

Hasiotis pointed out the merger of the information systems of Postbank and DZI Bank would be completed in the second quarter, less than 6 months after the acquisition of DZI Bank, while the legal merger was expected in the third quarter of 2007.

The two banks are members of the international banking organization Eurobank EFG Group, which has established presence in seven countries from the region of Southeast and Eastern Europe.

The merger is subject to approval by the shareholders of Postbank and DZI Bank. The combined is to be called Eurobank EFG Bulgaria A.D.