With a combined investment of more than €1bn in 2006, Eurobank EFG broke into three banking markets, while demonstrating dynamic expansion in three of its existing markets. In Poland, the bank built a network of 130 branches and PoSs in less than a year; in Turkey, the acquisition of Tekfenbank gave it access to the SME segment; and in Ukraine, the acquisition of Universal Bank was the first deal to be signed for a Greek bank in the Ukrainian market.
Of the existing markets, the bank’s presence in Bulgaria was strenghtened by the purchase of a majority stake in DZI Bank and a merger with Postbank created the fourth largest bank in the country. Further takeovers grew Eurobank’s position in Serbia with the fast completion of a merger with AD Beograd and the acquisition of Nationalna Stedionica Banca.
Greece remains the core market, with 500 branches, and has provided the bulk of profits. The bank grew its loan portfolio faster than the market’s average while sustaining growth in all other banking fields.
In the past year, Eurobank EFG exceeded analysts’ expectations in terms of profitability while conducting a busy expansion campaign in Europe’s promising banking markets. The bank’s plan is to become a leading player in central and southern Europe, which had a very promising beginning in 2006.
