Greek Banking - From the Pre-Euro Reforms to the Financial Crisis and Beyond

Over the last 20 years, the Greek banking sector has witnessed fundamental changes due to the preparations for the entry into the Euro area, with deregulation, technological improvements, mergers, preparations for the Euro, and high growth and profits. More recently, Greek banks found themselves in the heart of the financial crisis and made headlines around the globe. Thus, from a period of growth and considerably high levels of profitability, Greek banks found themselves battling with the haircut of the Greek bonds, a considerable decrease in demand in the local market, and a sharp increase in non-performing loans. What are the characteristics of the Greek banking system? How is it able to survive the crisis? What lies ahead? This book answers these questions by providing a discussion of the Greek banking system from the mid-1990s up to the end of 2011. Among others it covers topics including profitability, bank risk, corporate governance, structure, and the macroeconomic, institutional and regulatory environment of the Greek banking sector.

Introduction Overview of the Greek banking sector Macroeconomic and Institutional Environment Non-banking financial institutions & Capital Markets Central Banking and Policy Responses to the Crisis Supervisory Framework Retail Banking Performance of the Banking Sector in Greece Banking Risks Corporate Governance Recent Developments and Future Challenges