National Bank of Greece (NBG) is reportedly planning to offload a minority stake in Turkey-based Finansbank, for an undisclosed sum.

In a statement the Athens-based bank said that the deal is part of its strategy whereby it will submit a restructuring plan later this year to divest a minority stake in Finansbank.

The proposed transaction, if materializes, will boost National Bank of Greece effort to raise funds to shore up its balance sheet.

NBG acquired Finansbank in August 2006, and currently has a 77.23% direct stake in the Turkish lender, while NBGI owns a 7.9% stake, International Finance Corporation controls a 5% shareholding, while remaining 9.68% stake is owned by NBG Finance.

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