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Article: Special Supplement: Greece - Branching Out - With Rising Demand From The Underbanked 'new' European States, There Are Great Opportunities For Greek Banks Intent On Expansion.(Statistical data)
- Article from:
- The Banker
- Article date:
- May 1, 2007
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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Greek banks plan to open more than 300 new branches outside the country this year in a drive to capture a bigger market share in south-east Europe.
The accelerating pace of expansion reflects increasing demand for loans in the 'new' Europe, underpinned by high economic growth rates, strong inflows of foreign investment and falling unemployment. And EU accession for Bulgaria and Romania at the start of this year has given the business climate a further boost.
Greek banks have an estimated 19% share of lending and control the largest branch network in the Balkans, but face intensifying competition from other EU-based banks. With privatisation nearly ...