Greek Banks Hunt for Foreign Deals After Painful Turnaround [Yahoo! Finance Canada]
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Source: Yahoo! Finance Canada
(Bloomberg) -- Greek banks are ready to spend money on deals abroad after emerging from years of painful restructuring, said the the top executives of the nation's largest lenders. Most Read from Bloomberg The country “needs stronger, bigger banks,” Piraeus Bank Chief Executive Officer Christos Megalou said Monday during a panel discussing organized by Bloomberg. “All of us are looking at projects outside of Greece,” he said. His comments were echoed by co-panelists Alpha Bank CEO Vassilios Psaltis, National Bank of Greece CEO Paul Mylonas and Eurobank Ergasias Service and Holdings SA CEO of Fokion Karavias, who added that cross-border consolidation in the industry would be welcome by all stakeholders in Greece. Greece has been at the forefront of a Europe-wide effort to return lenders to private ownership. In little more than a year, the state has exited three of the country's biggest lenders and largely divested its holding in a fourth. The disposals, which netted €3.5 bill
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