Last month Greece's second largest lender hired Goldman Sachs and Morgan Stanley as advisers on the sale of the insurance unit, banking sources close to the deal said.
"It has been public that from a business point of view we would have liked to keep the insurance company," NBG's Chief Executive Leonidas Fragkiadakis told Reuters.
"However, it's part of our restructuring and we will be focused on performing on our commitments. There is a process going on and we are at its early stages," he said.
Read the full story GREECE's NBG likely to sell its insurance unit this year