Bill set to be ratified to strengthen Greek banking Sector

08:14 22/7/2024 - Πηγή: iEfimerida

The Greek Parliament is set to review a bill on Tuesday aimed at strengthening the country's banking sector.

The bill, submitted by the Ministry of National Economy

and Finance, proposes the merger and restructuring of Pancretan Bank and Attica Bank, two institutions in which the government has already made significant investments.

The merger aims to create a new, stronger banking entity, which is expected to become the foundation for a "fifth banking pillar" in Greece. By fostering increased competition in the banking sector, this new entity is anticipated to benefit depositors, consumers, and businesses alike, officials say.

The bill was submitted to Parliament late on Friday and is scheduled to be reviewed by the relevant parliamentary committee on Tuesday.

After the review, the bill is expected to be put to a vote in the plenary session of parliament on Friday.

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