National Bank of Greece CEO sees more local M&A; developments in banking system

ATHENS (Thomson Financial) – National Bank of Greece CEO, Takis Arapoglou, said that as the Greek economy matures we should expect more mergers and acquisitions with the aim of achieving economies of scale and exploiting synergies.
Speaking at National’s AGM, the CEO said that in the local banking system we can expect the emergence of even larger banks which will become even more competitive on a European level.
‘Overseas three large banks control 80 pct of the banking system, I expect similar developments here if we don’t become an exception to the rule,’ Arapoglou added.
Source: Euro2day.gr NewsWire
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