Emporiki analysts: Small players will be forced to merge

Greek banks have to expand rapidly in order to reach a level that would allow them to play a significant role in the South-Eastern European region, in the next stage of mergers and acquisitions, shows a study conducted by Emporiki Bank. The Emporiki Bank Group, which was acquired last year by French giant Credit Agricole, operates a branch on the local market. However, Emporiki Bank Romania is one of the minor players on the domestic market, with the French not yet giving a clear signal regarding their operations in Romania. “The privatisation process in Balkan countries is already nearing completion (for example in Romania and Bulgaria). The next step after privatisation will be a new wave of mergers and acquisitions, given the lower density of such processes in this sector. The small local banks will be “forced” to merge to survive in an increasingly more competitive environment,” Emporiki Bank analysts say.