Συγχωνεύσεις και εξαγορές στον τραπεζικό τομέα
Mergers and acquisitions in banking sector
Banking in Greece has undergone important changes the last years. Most recently, their sustainability was threatened due to financial crisis. As a consequence, a period of vital changes followed and a great number of M&A was carried out by the Greek banking institutions. Main cause of this thesis is the presentation of M&As’ politics as a way of strengthening the competitive position of a business and mainly of a banking institution. The content of this analysis is separated in four parts. In the first part, the strategy of M&A is approached in theoretical basis. In the second part, there is a mention in the waves of M&A that have been noticed over the decades. Furthermore, the Greek banking sector is examined, along with its changes, until it ended up in four systemic pillars. In the third part, the evaluation methods of a merger are mentioned, with emphasis in the accounting method. In the last part, it is examined the case of acquisition with absorption between Alpha Bank and Emporiki Bank. It is obvious, that this absorption improved bank indicators considering efficiency, fluidity and quality of assets. It also helped sustainability of united banking. The strategy of merger could not confront the negative consequences of crisis in bank results. However, its success lies in the obvious reduction of the negative results which was realized by creating important synergies. In the end, based on the study of the systematic danger of share, it seems that the danger is reduced after the merger something which is considered to be caused by the preservative investors who are affected by the economy’s instability.