Still room for consolidation

Back to Time for reality check

Greece’s banking sector is highly concentrated and most bankers do not see any particular reason why there should be consolidation among the five largest banks when little synergy could be achieved because of rigid labour laws. However, they see room for consolidation among small and medium-size banks. A small minority even feels that another major international bank is likely to enter the market in the next year or so.

Greece’s five largest banks, National Bank of Greece, Alpha Bank, EFG Eurobank Ergasias, Emporiki Bank and Piraeus Bank, account for more than 80% of total deposits and loans.