Alpha Bank and Eurobank postponed their general shareholders’ meetings for November 4, to discuss a merger plan between the two banks.

Executives from both banks said that the merger plan was progressing according to a timetable set by the two boards and noted that following approval by their shareholders, the plan would only need approval by Greek banking authorities.

They expect that Alpha Eurobank would begin operating as a single organization by early December.

Alpha Bank’s and Eurobank’s shareholders will have to approve both the merger plan and the actions accompanying it, on the basis of a capital boosting scheme which envisages a 1.25 billion euros share capital increase, which will be entirely covered by a Qatar investment group.