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Breeze of cooperation warms relations between feuding Turkey and Greece

This autumn is due to see the completion of the purchase by the National Bank of Greece, the largest bank in Greece, of a 46% stake in Finansbank AS, Turkey's eighth-largest bank. The price tag agreed in April is €2.3 bn ($2.77 bn), with the investment not only striking for its size but as a harbinger of an upsurge in Greek investment in Turkey. Indeed, one month later EFG Eurobank, controlled by the Latsis family, agreed to buy 70% of Tekfenbank for $180 million. Alpha Bank's Yannis Costopoulos also said that his bank was planning a foothold in Turkey.