Alpha Bank, Bank of Cyprus and Marfin Popular Bank have increased their respective market shares in terms of loans, fighting off the challenge by the smaller and newcomer Greek banks.

According to unofficial data, Alpha Bank’s total of loans improved 15.7% year-on-year, Bank of Cyprus increased its loans by 12.4% YoY, while Marfin Popular Bank lifted its total loans by 11.9% YoY by May 2008. The Coops also managed to hold their ground and increased loans by 4.4% YoY, despite stiff competition from the commercial banks.

The top gainers in the deposit segment were Piraeus Bank up 88% YoY, Marfin

Popular Bank up 7.3% YoY and Hellenic Bank up 8.5% YoY.

Financial Mirror, 09/07/2008