Greek banks are jostling for the lion’s portion of the Balkan market ahead of the accession of Romania and Bulgaria to the European Union in 2007.

The country’s six top banks — National Bank of Greece, Eurobank, Alpha Bank, Emporiki and Piraeus Bank — already control 13 percent of the Balkan banking sector in which they have invested an estimated total of 1 billion euros.

But they are expected to clash fiercely over the next two years to acquire a stronger foothold in this market of 50 million people (excluding Turkey) well before Bulgaria and Romania join the EU.

Currently, Eurobank and National Bank have the edge on their rivals, with Eurobank controlling 160 branches in Romania, 123 in Bulgaria and 11 in Serbia, and National Bank holding 110 in Bulgaria, 29 in Romania, 48 in the Former Yugoslav Republic of Macedonia and 15 in Serbia.

National Bank wants to expand its Romanian presence, while also looking toward Turkey and Serbia, sources say. Meanwhile, Eurobank is reportedly looking to buy out one of Serbia’s biggest banks. Alpha Bank is looking to boost the 156 regional branches it controls to the 250 mark over the next two years, with a focus on Romania. Both Piraeus Bank and Emporiki are understood to be focusing on Romania and Bulgaria.