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PBG seeks small Russian bank

Piraeus Bank, Greece's (PBG) fourth-largest lender is looking to buy a small Russian bank as part of its European expansion strategy, though a deal is not imminent, PBG reported on Wednesday Piraeus, also present in Bulgaria, Romania, Egypt, Serbia, Albania, Ukraine and the U.S., said it would spend up to 100 million euros ($146 million) the acquisition.
Earlier on Wednesday, financial daily Imerisia reported the group was "flirting" with Kedr Bank, which runs a network of 170 branches in Russia.
"If and when there is a deal ... there will be an announcement," Piraeus said in a statement.