The banking system of Greece includes commercial banks, cooperative banks and branches of foreign banks. The banking sector is dominated by four largest domestic banks: NBG, Alpha Bank, Piraeus and Eurobank Ergasias. The number of payment cards in circulation in Greece exceeds 16 million. Bank of Greece, established in 1927, is the central bank of the country. Here is a list of the largest and best banks operating in Greece.
National Bank of Greece
National Bank of Greece (NBG), founded in 1841 by Greek banker Georgios Stavros and Swiss banker Jean-Gabriel Eynard, is the largest Greek bank by assets. With 9,600 employees, it provides a full array of products and services through 390 local branches, 1,460 ATMs, and international offices. It offers deposit and mortgage products, credit and prepaid cards, housing and consumer loans, investments, private and premium banking, bancassurance, pension plans, import - export and trade finance, eco solutions, cash management, securities, foreign currency exchange, wire transfers, mobile and online banking and more. It maintains international branches and subsidiaries in Cyprus, Romania, the UK, Egypt, Bulgaria, Malta and Macedonia as well as representative office in Melbourne, Australia.
Founded in 1879 by John F. Costopoulos, Alpha Bank is the second largest bank in Greece based on total assets and net loans as well as the 3rd largest financial institution by market capitalization. The company employs about 11,360 people and operates 457 branches in Greece and 186 branches abroad. The Bank’s credit ratings are B- from Standard & Poor’s, Caa2 from Moody’s and CCC+ from Fitch. The company’s common shares are listed on the Athens Stock Exchange (ASE or ATHEX) with a market capitalization of US$1.1 billion as of June 15, 2020.
Eurobank Ergasias Services and Holdings S.A. is the third largest bank in Greece by assets, deposits and loans, and the largest by market value. With 13,200 employees, it maintains a network of 640 branch offices including 340 domestic units. It has a strong international presence in Luxembourg, Cyprus, the United Kingdom, Serbia and Bulgaria. The company offers corporate and retail banking, private banking, wealth management, real estate services, equipment and property leasing, mergers and acquisitions, investment funds, mobile and online banking, and insurance. It was awarded as Best Retail Bank in Greece by World Finance and Best Bank in Greece by Euromoney.
Headquartered in Athens, Piraeus is the fourth largest bank in Greece as measured by assets and the largest by loans and deposits. With about 12,300 employees, it serves 5.2 million customers through over 550 branches and 2,000 ATMs across the country. It also has branches in London, Frankfurt, and Sofia. Piraeus is the only Greek bank in Germany and was the first foreign bank in Bulgaria. Piraeus UK branch specializes in services for high-net-worth-individuals. In September 2018, the Bank had $60 billion in gross loans, $49 billion in deposits, $5.4 billion in total equity and $68 billion in total assets.
Based in Athens, it is one of top 10 banks in Greece with more than 60 branches and US$3.9 billion in total assets. It offers savings and current accounts, time deposits, home loans, consumer and green loans, card services, insurance programs for individuals, share trading and mutual funds, margin accounts, short and long term loans, domestic factoring, leasing, letters of guarantee, sale of the Greek Government securities, Visa business card and business debit MasterCard, online banking and other services. The company employs 630 people and operates as a subsidiary of EFKA pension fund. The Attica Bank Group’s subsidiaries include Attica Wealth Management M.F.M.C., Attica Finance, Attica Ventures, AtticaBank Properties, Attica Funds and Attica Bancassurance.
HSBC, one of the leading international financial groups, has been present in the country since 1981. It is a major player in the Greek financial market providing a wide suite of premium banking and investment products to personal, corporate and institutional customers. The company maintains offices in Athens, Thessaloniki and Piraeus. HSBC Greece was formerly a branch of HSBC Bank plc and became a branch of HSBC France in 2017. In January 2019, HSBC announced the appointment of Peter Yeates as a new CEO for Greece.
Citigroup, an American financial services corporation, has been present in Greece since 1964. It was the first bank in Greece to introduce investment products to the local market. Currently the company offers financial services to businesses, financial institutions and public sector. Citi sold its retail banking operations in the country to Alpha Bank, the second largest Greek bank. Citi was awarded the title of Best Investment Bank in Greece by leading financial magazine Euromoney.
See also: Foreign Banks in Greece
List of Domestic Banks in Greece
Alpha Bank S.A.
Attica Bank S.A.
Piraeus Bank S.A.
Eurobank Ergasias S.A.
Optima bank S.A. (formerly Investment Bank of Greece)
Aegean Baltic Bank S.A.
Credicom Consumer Finance Bank S.A.
Cooperative Bank of Chania LLC
Cooperative Bank of Epirus Ltd.
Pancretan Cooperative Bank ltd.
Cooperative Bank of Evros Coop
Cooperative Bank of Karditsa Coop
Cooperative Bank of Thessaly Coop
Cooperative Bank of Pieria - Olympic Credit
Cooperative Bank of Drama
Cooperative Bank of Serres Coop
National Bank of Greece S.A.
Banks Listed on the Athens Exchange
Alpha Bank (ALPHA)
Attica Bank (ATT)
Bank of Greece (TELL)
Eurobank Ergasias (EUROB)
National Bank of Greece (ETE)
Piraeus Bank (TPEIR)