The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

National Bank of Greece rides the growth wave

NBG, Greece’s largest bank, is doing well out of a domestic growth surge but has recognized the need to find the fastest-growing, most profitable parts of the market. The same strategy is being applied to its ambitious expansion programme abroad. Laurence Neville reports.

Consolidation ahead

THE GREEK ECONOMY is booming and so are the country’s six biggest banks, which enjoyed 19.5% growth in operating revenue for 2006. But although strong growth is expected in 2007 and 2008, and the outlook for the sector looks positive, Greek banks are realizing that to sustain expansion they increasingly need to focus on those market segments with the greatest potential.

The largest and oldest of these banks, National Bank of Greece (NBG), is part of the fabric of Greek life: despite increased competition, it has maintained a 30% market share in deposits and more than 20% in loans. Nevertheless, it is also increasingly targeting specific sectors for growth – both retail and corporate, at home and abroad – in a bid to increase margins and improve the profile of the bank.

"We want to be in high-growth markets and while Greece is growing by 4%, the other markets we are involved in are growing by 6% or 7%"

Takis Arapoglou, National Bank of Greece

Takis Arapoglou, National Bank of Greece

"All areas of our business are growing," says Takis Arapoglou, chief executive.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree