Overview of Banks in Greece
The Greek banking system is composed of four systemic banks (large banks in Greece with a major impact on the domestic economy), banks that are incorporated in Greece, and international banks that operate branches in the country.
The Bank of Greece is the country’s central bank, which is responsible for ensuring price stability and supervising private banks in Greece. It also serves as a treasurer and fiscal agent for the Greek government. The Greek central bank was founded in 1927 with headquarters in Athens and several branches across the country.
Moody’s Investors Service maintains a stable outlook on the banking system of Greece. Some improvements in the banks’ profitability and loan quality are expected in 2017-2018, according to Moody’s. One major challenge for banks in Greece is problem loans, but it is predicted to decline by almost half over the agency’s outlook period.
For anyone considering a career in banking in Greece, this list of top banks in Greece is a helpful guide on where to start. To learn more, see our list of financial institutions.
Top banks in Greece include:
Universal Bank Piraeus Bank A.E. was formed in 1916 with the aim of supporting small and medium enterprises. The bank now provides various banking services through 620 branches in Greece and 133 branches in Frankfurt, London, Bulgaria, Ukraine, and Albania. Based in Athens, it is the largest of the banks in Greece in terms of assets. It holds a 30% market share in net loans and a 29% share in total deposits.
Revenue: 2.040 billion euros (2017)
Net income: 202 million euros (2017)
Total assets: 67.42 billion euros (2017)
National Bank of Greece
National Bank of Greece is a global banking and financial services company that was founded in 1841. It is the second largest bank in the country in terms of total assets, the largest of banks in Greece by deposits, and the third largest bank in terms of Greek loan assets.
The bank provides financial products and services to private individuals and corporate and institutional clients through its 542 Greek branches and 336 branches abroad.
Revenue: 2.065 billion euros (2016)
Net income (loss): (301 million euros) (2016)
Total assets: 70.34 billion euros (2016)
Eurobank Ergasias SA
Founded in 1990, Eurobank Ergasias SA is the second largest bank in Greece. The European banking organization provides a wide array of banking and financial products and services such as retail, corporate, and investment banking, as well as asset management, through its 898 branches.
Headquartered in Athens, the bank maintains a solid presence not only in Greece but also in Bulgaria, Romania, Serbia, Cyprus, Luxembourg, London, and Ukraine.
Revenue: 1.882 billion euros (2017)
Net income: 104 million euros (2017)
Total assets: 60.02 billion euros (2017)
Alpha Bank is the largest of the banks in Greece in terms of market capitalization. The bank operates a network of 671 branches, as well as subsidiaries throughout southern Europe, offering financial products and services to individuals and corporations in Greece and other countries.
Alpha Bank was established in 1879 when John F. Costopoulos founded a small commercial firm in Kalamata. His banking department was then called Bank of Kalamata in 1918. In 1924, the bank adopted the Banque de Credit Commercial Hellenique name after it transferred its headquarters to Athens.
Revenue: 2.669 billion euros (2016)
Net income: 42.3 million euros (2016)
Total assets: 64.8 billion euros (2016)
Founded in 1925 and formerly called Bank of Attica SA, Attica Bank Banking Company SA is the country’s fifth-largest bank. It employs around 782 individuals and provides banking products and services through 65 branches, servicing clients in Greece and the UK. Its headquarters is in Athens.
Revenue: 107.65 million euros (2016)
Net income (loss): (49.83 million euros) (2016)
Total assets: 3.619 billion euros (2016)
International bank HSBC established a presence in Greece in 1981 and is now one of the major banks in Greece. It supports corporate expansion in Greece and overseas through its specialist divisions such as HSBC Commercial Banking and HSBC Global Banking and Markets.
With the bank’s international experience, HSBC is able to serve the local requirements of individuals and corporate and institutional clients in terms of banking and investments.
One of the largest card issuers in Greece is international bank, Citibank. It is also the first of banks in Greece to introduce investment products to the Greek market. Headquartered in Athens, Citibank Greece is a subsidiary of Citibank, National Association. It offers banking products and services to businesses, the public sector, and financial institutions.
In 2014, Citibank sold its retail banking business in Greece to Alpha Bank, transferring over 720 employees, its wealth management unit, and a retail branch network that services 480,000 customers.
Aegean Baltic Bank
Specialist Aegean Baltic Bank (ABBank) provides corporate, investment, and wealth management products and services, focusing on the Greek and regional shipping communities. It was founded in 2002 with headquarters in Maroussi and branches in Piraeus and Glyfada.
Revenue: 9.12 million euros (2016)
Net income (loss): -880,000 euros (2016)
Total assets: 226 million euros (2016)
Investment Bank of Greece
With headquarters in Athens, the Investment Bank of Greece SA is a subsidiary of Cyprus Popular Bank. Established in 2000, it is one of the best capitalist banks in Europe and the only one of the banks in Greece to offer banking and brokerage solutions. Aside from being a broker in the securities market, the bank also provides deposit and loan products, correspondent banking, and international trade support.
Careers in investment banking
To break into investment banking, there are several important things to focus on. These include networking, resume, experience, and financial modeling skills. To learn more, explore our interactive career map…. For banking careers, you will have a significant edge over the competition with our financial modeling courses.
This has been CFI’s guide to the top banks in Greece. For anyone looking for a career in banking, this list is a great place to start your networking. Please also see these additional resources: