By F. Pasiouras
ISBN-10: 1137271574
ISBN-13: 9781137271570
ISBN-10: 1349347337
ISBN-13: 9781349347339
From a interval of development and significantly excessive degrees of profitability, Greek banks lately discovered themselves fighting a huge reduce renowned within the neighborhood marketplace, and a rise in non-performing loans. How is the Greek banking process in a position to live on the difficulty? this is often mentioned by way of taking a look at the final 15 years of the Greek banking approach.
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Additional info for Greek Banking: From the Pre—Euro Reforms to the Financial Crisis and Beyond
Example text
In response to these changes Greek banks engaged in mergers and acquisitions and the expanded their activities abroad. 4 discussed both the trends and the empirical evidence related to these activities. This chapter also focused on the main structural features of the Greek banking sector, like the number and types of banks, concentration, the expansion of the branch network, etc. The aim was to provide an overview of the sector that will be useful in the discussion of other important changes that were introduced, such as the use of alternative distribution channels like ATMs and customer points of sale (Chapter 6) or improvements in risk management (Chapter 8).
8 per cent (2003). 1 presents averages of the annual change in real GDP volume. 2 In particular, deregulation of the financial system in the 1990s and the entry of 15 16 Greek Banking Greece into the euro area resulted in a decline in borrowing costs, high credit expansion and, eventually, a rise in consumption, and both private and public investments. The improvement of business confidence in the economy’s prospects, the increase in industrial production, the growth in the construction industry, the expansion of the services sector, an impressive change in manufacturing output and the utilization of resources from the 1st and the 2nd Commission’s Structural Funds altogether played a significant role in altering economic activity over this period.
6). 6 billion euros, those being Turkey (21 per cent), Romania (20 per cent), Cyprus (14 per cent), UK (13 per cent) and Bulgaria (13 per cent). 5 Network of Greek banks abroad, 2002–9 Banks Countries Subsidiaries Branches Personnel 22 27 27 30 33 32 34 34 324 649 615 1,015 1,859 2,616 3,170 3,019 6,736 12,373 12,741 17,236 29,377 38,120 44,277 43,452 Countries Branches Personnel 14 12 13 7 7 7 7 7 48 44 66 83 146 270 383 411 811 666 942 983 1,452 2,643 4,414 4,659 Panel A: Subsidiaries 2002 6 2003 7 2004 7 2005 7 2006 6 2007 7 2008 7 2009 6 Banks Panel B: Branches 2002 7 2003 6 2004 6 2005 6 2006 6 2007 6 2008 6 2009 6 13 15 15 14 13 14 13 14 Sources: Various reports of the Hellenic Bank Association and author’s calculations.
Greek Banking: From the Pre—Euro Reforms to the Financial Crisis and Beyond by F. Pasiouras
by Anthony
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