National Bank of Greece SA (NBG), the country's largest lender, said Thursday it has appointed six investment banks to act as advisors on the sale of a stake in its Turkish unit.

"The team of advising banks includes Credit Suisse (CS), Deutsche Bank AG (DB), Morgan Stanley (MS), Bank of America Merrill Lynch (BAC), Goldman Sachs International (GS) and HSBC (HBC)," NBG said in a statement.

After NBG successfully raises EUR1.8 billion of capital, it intends to raise about EUR1 billion for the sale of an up to 20% stake in Finansbank (FINBN.IS).

"The public tender may include issuing new shares as well as the sale of existing shares and will be completed as soon as market conditions and regulatory approvals allow," NBG added.

The bank emphasised that it would retain at least 75% of its Turkish unit.

-By Nick Skrekas, Dow Jones Newswires; +30 210 2830685; nick.skrekas@dowjones.com
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