ECONOMY

Foreign banks see market share grow

Foreign banks are seeing their market share in Greece expanding by the month as local lenders? limited access to funding creates openings for the penetration of outsiders into the Greek credit market.

Banks such as Emporiki, which belongs to French group Credit Agricole, Britain?s HSBC and Geniki, owned by French banking giant Societe Generale, have been very active promoting new products for deposits and loans over recent months in Greece and their market shares are growing.

The main advantage of foreign banks is their access to cash via their parent companies, which allows them to offer very competitive terms of funding to their clients.