Balkan bank fears over the top

Concerns over the financial health of Greek banks in the Balkans are exaggerated, as the lenders are not experiencing any liquidity problems, Deputy Foreign Affairs Minister Miltiades Varvitsiotis said yesterday. «The uncertainty that exists regarding Greek banks in the Balkans, and especially Albania, is unjustified,» said Varvitsiotis while on a trip to the neighboring country. «Greek banks do not have any liquidity problems and as a result there is no reason why Albanian investors and depositors cannot trust Greek banks,» added Varvitsiotis, who oversees Greece’s economic diplomacy efforts. Along with a presence in Albania, Greek banks are present in Bulgaria, Romania, Serbia, Turkey, Poland and Ukraine. National Bank, Alpha, Eurobank and Piraeus Bank are among the lenders that have forayed into Southeast Europe, taking part in the rampant credit growth that has fueled the region’s economic boom in recent years.

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