CrediaBank Chief Executive and board member Elena Vrettou spoke about interest from foreign investors and prospects for consolidation in the banking sector at the 9th Athens Investment Forum, co-organised by the Technical Chamber of Greece (TEE) and Vertical Solutions SA at the Athens Concert Hall. She said there was nothing specific regarding takeover scenarios, but stressed that banks need scale.
“We have come on to the radar of some large foreign shareholders,” she said, adding that existing foreign shareholders might also choose to divest.
On CrediaBank’s progress, she said: “Our business plan is based on mergers and acquisitions.” As she explained, even if the bank itself is not a takeover target, it can continue to grow through mergers with other banks.
She described large-scale mergers as a matter of political will and argued that the number of banks does not, in itself, determine the quality of competition. On lending, she highlighted small and medium-sized enterprises, mergers and acquisitions, manufacturing, pharmaceuticals, real estate, shipping and energy.
Representatives of key sectors of the Greek economy focused on the conditions needed to attract investment after the Recovery Fund, highlighting both the opportunities and the challenges ahead.