In the course of 2006 the key driver of structural developments has been the full or partial privatization of state-controlled institutions. Emporiki Bank was acquired by Credit Agricole, while the Postal Savings Bank was granted a banking license in conjunction with an Initial Public Offering (IPO) on the Athens Stock Exchange.
In the last 10 years, the National Bank of Greece has been gradually cutting loose from state control. To this end, the appointment of professional managers and the last capital increase, which led to a dilution of the state’s shareholding, have been decisive factors.