Activities of Greek Banks in Balkan Countries: A Comparative Balance Sheet and Income Analysis Between Affiliate Banks in Balkan Countries

The paper proposes a comparative analysis of the activities and income of Greek banks in the Balkan countries (Albania, Bulgaria, FYROM, Romania and Serbia) by examining the balance sheet and the statement of income within the period of 2000-2004. Greek bank have a strong presence in the Balkan countries that begun the decade of ’90. Their presence took the form of affiliate bank and branches. The paper examines activities through affiliate banks and parent banks for which balance sheet and income data are available. Results show differentiations of Greek banks especially with regard activities with non bank-clients and interbank activities in assets and liabilities as well. Non-bank activities arise to 80% in some cases, which represents a strong confidence to these banks. Differentiations between affiliates and with regard parent bank are presented to income and profitability results as well.

Development and Prospects of the Greek Cooperative Credit System

The credit cooperative system was established in Greece in 1993, following the creation of the appropriate legislative framework. The Greek system distinguishes two types of institutions: the cooperative bank that functions as a bank and the credit cooperative that cannot provide banking services. The Greek cooperative system is characterized by the autonomous and nonhomogenous development of the cooperative banks and credit cooperatives. Moreover, in 2001 the cooperative banks created a central nation-wide bank that has since helped the further development of the credit cooperative system. However and despite the large number of geographic departments involved in the credit cooperative system, the expansion of cooperative banks in the Greek bank market is limited, principally due to legislative restrictions and the lack of dynamism these restrictions create to the credit cooperative system, while operating in a very competitive market environment.Cooperative bank, Credit union, Credit cooperative, Cooperative credit system, Greece, Agribusiness,

Wine Roads in Greece: A Cooperation for the Development of Local Tourism in Rural Areas

An association of Wine Roads was developed in Greece at the beginning of the 1990s in an attempt to boost rural tourism. The association was created by wine producers in the regions of Macedonia and was then extended to Epirus, Thessaly and Thrace. Its main purpose has been the promotion of wine companies and the association's regional members, while its specific targets have been the development of local tourism, the support of cultural heritage and the improvement of product quality and related services. The Wine Roads initiative has received substantial financial support from the European Union and the State of Greece, mainly through the LEADER II program. However, socioeconomic results for the participating companies and regions appear to differ. An assessment using a questionnaire showed a positive effect on the enhancement of relations among members, the increase in tourist visits, publicity for the regions and cultural events. In contrast, there have been no significant positive effects on employment. Finally, it should be noted that some of the participating districts and companies have been more active and have taken better advantage of this initiative.Wine roads, rural tourism, cooperation, financing, LEADER program, Greece, Community/Rural/Urban Development,

Crisis? consequences on recapitalization and exposure for Cypriot and Greek cooperative banks

The financial crisis of 2008 transformed, in some countries, to economic and social one, created serious problems to the banking system. Capital basis and asset exposures, especially through the non-performing loans, have been the most important. Capital inadequacy caused the failure of banks that didn?t succeed to accomplish the capital requirements set by Basel II obligations.The treatment was not the same for all banks as only those considered as significant banks, for the economy, received capital aid from their state. The paper investigates through capital basis requirements and asset exposures the crisis? consequences on Cyprus and Greek cooperative banks. The consequences were cataclysmic for the cooperative banking systems of the two countries. In Greece, the cooperative banks did not receive any state aid, leading to the bankruptcy of many of them. In Cyprus, once all the cooperative banks were merged into the central cooperative bank, the latter received state aid as it was considered as a significant bank for the national economy. Moreover, the high level of non-performing loans and the new economic environment that the crisis had caused, forced the cooperative banks to change their asset exposures structure and their credit policy

Factores financieros locales influyen las actividades de los bancos cooperativos griegos

This paper examines the influence of local conditions on banking activities focusing on the case of 14 cooperative banks in Greece for the period 1999-2007. These banks have been chosen because of their local character and consequently they are more influenced by local conditions in comparison to banks having a national and even international network. Local conditions could be endogenous and exogenous to the bank. The endogenous to the bank are the banking network developed locally or regionally, and the members of the banks who are the main part of the banks’ clientele. A macroeconomic and exogenous to the bank condition is the amount of savings in the prefecture in which the cooperative bank operates. The banking activities which have been examined include the deposits and loans constituting the main part of banking activities of cooperative banks in Greece. The growth of the banking network is the main factor of growth of the bank’s activities; growth of cooperatives’ members and the growth of the local savings have a positive but less important influence on cooperative banks’ activities.Este artículo examina la influencia de las condiciones locales de las actividades bancarias centrandose en el caso de los 14 bancos cooperativos en Grecia durante el período 1999-2007. Estos bancos han sido seleccionados por su carácter local y en consecuencia, están más influenciadas por las condiciones locales, en comparación con los bancos con red nacional e incluso internacional. Las condiciones locales pueden ser endógenas y exógenas al banco. Las endógenas al banco es la red bancaria que se desarrolla a nivel local o regional así como a los miembros de los bancos que son la parte principal de la clientela de estas. Una macroeconómica y exógena condición del banco es la cantidad de ahorros en la localidad donde opera. Las actividades bancarias que han sido examinadas incluyen los depósitos y los préstamos que constituyen la parte principal de las actividades bancarias de los bancos cooperativos en Grecia. El crecimiento de la red bancaria es el principal factor de aumento de las actividades del banco; el crecimiento de los miembros de las cooperativas y el aumento de las economías locales tienen una influencia positiva, pero menos importante en las actividades de los bancos cooperativos.Escuela de Estudios CooperativosFac. de Ciencias Económicas y EmpresarialesTRUEpu

Local financial factors influencing activities of Greek cooperative banks

This paper examines the influence of local conditions on banking activities focusing on the case of 14 cooperative banks in Greece for the period 1999-2007. These banks have been chosen because of their local character and consequently they are more influenced by local conditions in comparison to banks having a national and even international network. Local conditions could be endogenous and exogenous to the bank. The endogenous to the bank are the banking network developed locally or regionally, and the members of the banks who are the main part of the banks’ clientele. A macroeconomic and exogenous to the bank condition is the amount of savings in the prefecture in which the cooperative bank operates. The banking activities which have been examined include the deposits and loans constituting the main part of banking activities of cooperative banks in Greece. The growth of the banking network is the main factor of growth of the bank’s activities; growth of cooperatives’ members and the growth of the local savings have a positive but less important influence on cooperative banks’ activities

Wine Roads in Greece: A Cooperation for the Development of Local Tourism in Rural Areas

An association of Wine Roads was developed in Greece at the beginning of the 1990s in an attempt to boost rural tourism. The association was created by wine producers in the regions of Macedonia and was then extended to Epirus, Thessaly and Thrace. Its main purpose has been the promotion of wine companies and the association's regional members, while its specific targets have been the development of local tourism, the support of cultural heritage and the improvement of product quality and related services. The Wine Roads initiative has received substantial financial support from the European Union and the State of Greece, mainly through the LEADER II program. However, socioeconomic results for the participating companies and regions appear to differ. An assessment using a questionnaire showed a positive effect on the enhancement of relations among members, the increase in tourist visits, publicity for the regions and cultural events. In contrast, there have been no significant positive effects on employment. Finally, it should be noted that some of the participating districts and companies have been more active and have taken better advantage of this initiative

Aide financière publique pour le développement des coopératives : Le cas des coopératives de crédit en Grèce

L’article s’intéresse à l’aide financière publique apportée aux coopératives de crédit en Grèce, aide qui passe à la fois par l’État grec et par la Commission européenne. L’intervention publique visait principalement la transformation des coopératives de crédit en banques coopératives, lesquelles, seules, peuvent offrir tous les services bancaires à leurs membres. Au sein d’un programme plus général d’intervention en faveur des petites et moyennes entreprises, l’aide financière s’est notamment portée sur les activités liées à la diffusion de l’idée du crédit coopératif, l’infrastructure matérielle, l’informatique, la collaboration entre les institutions financières coopératives. Vingt-trois coopératives de crédit ont ainsi reçu une aide financière couvrant 50 % de leur budget. Il apparaît que les institutions les mieux préparées à développer les activités financées par le programme sont aussi celles qui en ont tiré les plus grands bénéfices.This article looks at public funding for credit cooperatives in Greece, which comes through both the Greek government and the European Commission. The main aim of this policy is to convert credit cooperatives into cooperative banks, which alone can offer the full range of banking services to their members. As part of a broader program in favor of helping small and medium-sized enterprises, the funding is largely targeted on activities linked with promoting the idea of cooperative credit, infrastructure, computerization, and partnerships among cooperative financial institutions. Twenty-three credit cooperatives have thus received funding that covers 50% of their budgets. The author observes that the institutions that are the best prepared to develop their businesses funded by the program are those that have benefited the most

Development and Prospects of the Greek Cooperative Credit System

The credit cooperative system was established in Greece in 1993, following the creation of the appropriate legislative framework. The Greek system distinguishes two types of institutions: the cooperative bank that functions as a bank and the credit cooperative that cannot provide banking services. The Greek cooperative system is characterized by the autonomous and nonhomogenous development of the cooperative banks and credit cooperatives. Moreover, in 2001 the cooperative banks created a central nation-wide bank that has since helped the further development of the credit cooperative system. However and despite the large number of geographic departments involved in the credit cooperative system, the expansion of cooperative banks in the Greek bank market is limited, principally due to legislative restrictions and the lack of dynamism these restrictions create to the credit cooperative system, while operating in a very competitive market environment

FACTORES FINANCIEROS LOCALES INFLUYEN LAS ACTIVIDADES DE LOS BANCOS COOPERATIVOS GRIEGOS / LOCAL FINANCIAL FACTORS INFLUENCING ACTIVITIES OF GREEK COOPERATIVE BANKS

Este artículo examina la influencia de las condiciones locales en las actividades bancarias centrandose en el caso de los 14 bancos cooperativos en Grecia durante el período 1999-2007. Estos bancos han sido seleccionados por su carácter local y en consecuencia, están más influenciadas por las condiciones locales, en comparación con los bancos con red nacional e incluso internacional. Las condiciones locales pueden ser endógenas y exógenas al banco. Las endógenas al banco es la red bancaria que se desarrolla a nivel local o regional asi como a los miembros de los bancos que son la parte principal de la clientela de estas. Una macroeconómica y exógena condición del banco es la cantidad de ahorros en la localidad donde opera. Las actividades bancarias que han sido examinadas incluyen los depósitos y los préstamos que constituyen la parte principal de las actividades bancarias de los bancos cooperativos en Grecia. El crecimiento de la red bancaria es el principal factor de aumento de las actividades del banco; el crecimiento de los miembros de las cooperativas y el aumento de las economías locales tienen una influencia positiva, pero menos importante en las actividades de los bancos cooperativos./This paper examines the influence of local conditions on banking activities focusing on the case of 14 cooperative banks in Greece for the period 1999-2007. These banks have been chosen because of their local character and consequently they are more influenced by local conditions in comparison to banks having a national and even international network. Local conditions could be endogenous and exogenous to the bank. The endogenous to the bank are the banking network developed locally or regionally, and the members of the banks who are the main part of the banks’ clientele. A macroeconomic and exogenous to the bank condition is the amount of savings in the prefecture in which the cooperative bank operates. The banking activities which have been examined include the deposits and loans constituting the main part of banking activities of cooperative banks in Greece. The growth of the banking network is the main factor of growth of the bank’s activities; growth of cooperatives’ members and the growth of the local savings have a positive but less important influence on cooperative banks’ activities