Bank mergers in Greece will not succeed before the 'environment' has been changeded. For any merger to be successful, there should be synergies that come about from the reduction in staff, discontinuance of bank premises and combination in back office operations. As the Greek-banks union (OTOE) is well entrenched it will be very difficult to reduce staff or take other measures to improve operations. Together with these, there is a need for changes in banking regulations to reduce the need for bank customers to visit their bank to do even very routine operations. Also, the matter of the use of personal checks should be looked into. A system similar to the one in use in the USA may be appropriate for Greece.
These are my initial thoughts on this matter, and I welcome your thoughts.
These are my initial thoughts on this matter, and I welcome your thoughts.
