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Greek banks in the Balkan countries: conclusion derived from analysis of their balance sheets

Author

Listed:
  • Chouliaras VASILIOS

    () (Technological Educational Institute (TEI) of Serres,Accounting Department)

  • Bogas CHRISTOS G.

    () (Technological Educational Institute (TEI) of Serres,Accounting Department)

Abstract

During the 1990s the Greek economy has flourished, with the help of the banking system, which, at the same period, has undergone considerable deregulation. The stock market “explosion” at the end of the decade has provided the necessary funds for the expansion of many Greek Banks in various countries and particularly those of the Balkan area. Some Greek companies had already expanded their business activities in these countries, which at the time were in the process of transition to the market economy, thus giving to the Greek Banks the incentive to follow their clientele. The expansion of Greek banks in the Balkans was such that they obtained significant market shares in some of the area’s countries. In the current paper we make an effort to examine the feasibility of the expansion of Greek banks in these countries, focusing especially on their financial efficiency. To that end the Balance Sheets of the parent banks, as well as those of their Balkan subsidiaries and associate companies where they held an equity share were studied and analyzed. Our main conclusion is that the activities of the Geek banks in the area were successful and had positive effects to their profitability and they reinforced their overall financial state.

Suggested Citation

  • Chouliaras VASILIOS & Bogas CHRISTOS G., 2011. "Greek banks in the Balkan countries: conclusion derived from analysis of their balance sheets," Scientific Bulletin - Economic Sciences, University of Pitesti, vol. 10(1), pages 28-41.
  • Handle: RePEc:pts:journl:y:2011:i:1:p:28-43
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    References listed on IDEAS

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    1. Demirguc-Kunt, Asli & Huizinga, Harry, 2000. "Financial structure and bank profitability," Policy Research Working Paper Series 2430, The World Bank.
    2. Demirguc, Asli & Huizinga, Harry, 1999. "Determinants of Commercial Bank Interest Margins and Profitability: Some International Evidence," World Bank Economic Review, World Bank Group, vol. 13(2), pages 379-408, May.
    3. Bonin, John P. & Hasan, Iftekhar & Wachtel, Paul, 2005. "Bank performance, efficiency and ownership in transition countries," Journal of Banking & Finance, Elsevier, vol. 29(1), pages 31-53, January.
    4. repec:fth:michin:282 is not listed on IDEAS
    5. David A Grigorian & Vlad Manole, 2006. "Determinants of Commercial Bank Performance in Transition: An Application of Data Envelopment Analysis," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 48(3), pages 497-522, September.
    6. Kyriaki Kosmidou & Fotios Pasiouras & Angelos Tsaklanganos, 2005. "Factors influencing the profits and size of Greek banks operating abroad: a pooled time-series study," Applied Financial Economics, Taylor & Francis Journals, vol. 15(10), pages 731-738.
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    More about this item

    Keywords

    Banking System; balance sheets; financial analysis; profitability; efficiency; Balkan area.;

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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