Greece's central bank governor has voiced strong support for more cross-border banking mergers and acquisitions across Europe, framing Greece as a model for welcoming foreign investment into its financial sector.
In an interview with Bloomberg, Bank of Greece Governor Yiannis Stournaras said his country has a "very pro-European view" and is open to both foreign investors entering the Greek market and domestic lenders expanding abroad. "We support cross-border transactions and hope this will become widespread," he said.
Mr. Stournaras contrasted Greece's approach with resistance in other E.U. countries, highlighting Greece's welcoming of Italian lender UniCredit's significant stake in Alpha Bank.
The interview comes as Greek banks are increasingly expanding their own regional footprint. Eurobank SA has acquired Cyprus's Hellenic Bank, and CrediaBank has a deal to acquire a majority stake in HSBC Bank Malta.
Mr. Stournaras also projected that Greece’s GDP growth will average just over 2% from 2025 to 2027, roughly double the European average.