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.

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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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