Greek banks downsize their networks
2012-08-21 16:08:26
The four largest Greek banks, National, Alpha, Eurobank and Piraeus, closed nearly 190 of their branches in Greece and other Balkan countries in the first quarter of 2012 alone, in addition to more than 250 last year, Hellenic Bank Association (HBA) data shows.
Last year’s closures meant the loss of 3.356 jobs in the banking sector which numbered 56,611 at the end of 2011. The banks are trying to offset part of the strong pressure on their net interest margins, HBA said.