Greek Bank Branches Into Poland
Greece's third biggest bank, EFG Eurobank Ergasias, plans to enter Poland and open as many as 200 branches, the Greek press reports.
Polish Eurobank, controlled by France's Societe Generale, expects the Polish patent office to register its brand before its Greek namesake starts expanding the market. It has already spent zl.80 million on advertising to make its brand name recognizable. "Using our brand name to attract clients would not be the right decision. If it turns out to be a reality we will search for a relevant solution," said Maciej Szczechura, marketing director at Eurobank. The Greek company is eying up Poland, as it could not find possible takeovers in its domestic market. It should also record profits in Bulgaria and Romania, where the loan market is more favorable than in Greece.