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Article: Special Supplement: Greece - Banks Jostle For Position - Greek Bankers Are Confident That The Credit Sector Will Continue To Expand As The Country Catches Up With Its European Partners. Kerin Hope Reports On Developments In A Still Underbanked Country.(Industry overview)
- Article from:
- The Banker
- Article date:
- May 1, 2007
- Author:
CopyrightCOPYRIGHT 2007 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: KERIN HOPE
A quick glance around the main square of a Greek island port reveals half-a- dozen bank branches jostling for space among the cafes and souvenir shops. Yet Greece is still underbanked in comparison with its European partners, with three branches for every 10,000 residents compared with five in other eurozone member states.
The hectic pace of credit expansion since Greece joined the euro in 2002 is starting to slow. But Greek bankers are confident that the sector is heading for several more years of robust growth as the catch-up process continues.
As well as being fewer in number, Greek bank branches are less productive. ...