Bulgaria Outstands in SEE Penetration of Foreign Banks
This is largely due to the completed privatisation of banks in the country and a sequence of mergers within the banking sector, according to an analytical document by the Union of Greek Banks (EET).
Foreign banks control two-thirds of the assets of the banking system in the countries of South East Europe, with Austria controlling 25%, followed by Greece and Italy with 13% each.
The highest percentages - above 90% - are on the tally of Bulgaria and Albania, followed by Romania with 60% where the process of privatisations is continuing.
The five largest Greek banks have made overall investments of more than EUR 2 B the region, establishing a network of approximately 950 branches that employ 16,000 people. These Top 5 are commanding more than 16% of the banking market share in South East Europe, the report said as quoted by ANA news agency.
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