Restructuring, growth of Greek banking sector expected

Banking circles expect that over the coming years there will be a new cycle of growth, though it will be a far cry from the galloping growth of the sector in the decade beginning in 2000 and leading to the bailout memorandum.

Over the last months there has been feverish activity in the Greek banking sector, after years of shrinking and essentially being excluded from the eye of the markets.

Banking circles expect that over the coming years there will be a new cycle of growth, though it will be a far cry from the galloping growth of the sector in the decade beginning in 2000 and leading to the bailout memorandum.

In that period, the predominant factor for a bank to penetrate the market was the size of its network and its ability to provide credit to the private sector.

Today, the most decisive factor is providing services via the internet, with cell phones and tablets as the main channel for the provision of those services.

Already, there are plans in the works that are expected to create a shakeup in the market, both by new investors and old players in the Greek banking system, who are interested in expanding in the sector of electronic money services.

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