The Banker

EFG Eurobank Ergasias was voted ‘Bank of the Year’ for Greece by internationally-acknowledged monthly business magazine THE BANKER, member of the Financial Times international publishing group. The distinction was awarded as part of the annual awards to the most successful and effective banking organisation in the countries surveyed. The aim is to reward banking organisations that are pioneers in terms of quality, dynamism and innovation in the provision of financial services. The award comes not only as an acknowledgement of the Bank’s successful course over the current year, but also as an acknowledgement of its ability to ensure a leading role in the future.
Referring to the distinction of EFG Eurobank Ergasias, THE BANKER notes: 'EFG Eurobank Ergasias has been at the forefront of the surge by Greek banks to take advantage of the opportunities offered by the country’s entry into the eurozone at the start of the year. 'Through strategies based on acquisitions and alliances, all the banks have made efforts to expand both in Greece and in the neighbouring countries to exploit market opportunities. But none has implemented this as effectively as EFG Eurobank Ergasias, which was formed last September after the merger between EFG Eurobank and Ergobank. This merger, coming after the acquisition of Bank of Athens and Cretabank by EFG Eurobank, created the country’s second largest private bank.' The best banks are selected on the basis of specific criteria, including and growth rates, performance in terms of capital adequacy and asset quality, technological infrastructure and its contribution to market share gains, the efficiency of the organisational and operational structure, as well as entrepreneurial strategy and the creation of conditions for future development.
The awards ceremony took place in London yesterday, in the presence of chairmen and managing directors of leading international financial institutions.