This is an interim condensed version of the annual study prepared by Deloitte on the Greek Banking Sector, based on the first 9 months of 2007.

The full report with the 2007 figures will be made available in April/May, once all banks have published their final figures.

From the results of the first 9 months of 2007 it appears that 2007 was yet another year that Greek banks grew significantly. Their strategic acquisitions in South-Eastern Europe have started paying off. According to their business plans of the larger banks, South-Eastern Europe is expected to contribute almost 30% in their consolidated earnings in the following years. Moreover Greek banks continued their expansion in the region by completing 3 acquisitions in Ukraine that recently gathers particular attention.

The recent International Credit crunch is also now showing signs of impact on the Greek Banking market especially on the funding side and interest rates. No doubt 2008 will not be as predicted earlier by Greek banks.

For more information please download the Report below.