EFG Eurobank Ergasias was selected for the second year in a row as ‘Bank of the Year’ for Greece, by internationally acclaimed magazine The Banker, part of the Financial Times publishing group.
| EFG Eurobank Ergasias was selected for the second year in a row as ‘Bank of the Year’ for Greece, by internationally acclaimed magazine The Banker, part of the Financial Times publishing group. The distinction was granted as part of the annual awards established by The Banker to select and honour the most successful and efficient banking organisation in each country. Upon awarding the same title to EFG Eurobank Ergasias in 2001, the magazine had noted that the award also referred to the Bank’s ability to ensure its leading role in the future, beyond its already successful course. The Banker issued a statement to the international press yesterday, during a special awards ceremony that took place in London, including the following remarks on the reasoning behind its selection: ‘‘EFG Eurobank Ergasias was the only Greek bank to produce an improved overall performance, including a 16.5% growth in assets and a 10.6% return on equity while embarking on a series of financial services’ initiatives and maintaining a tight control on costs. An important move this year has been the completion of the absorption of Telesis Investment Bank, which further strengthened the bank''s leading position in investment banking, equities and derivatives brokerage and asset management. It is now well placed to create new distribution channels for investment and brokerage products and supply integrated financial services to corporate and personal customers. The bank has established a clear competitive advantage through its investment in alternative distribution systems. It offers the full range of Internet, mobile and television banking and has started to introduce a modern client relationship management system to exploit cross-selling opportunities.’’ The special report of The Banker magazine (September issue), also includes a statement by the Bank’s CEO Mr Nicholas Nanopoulos, who notes that: ‘‘We have the ability to adapt continuously to a rapidly evolving world, to integrate complementary financial institutions successfully and to provide a superior service to our expanding client base.’’ The criteria used for the evaluation of banks by the special judgment committee of The Banker are, among others, growth rates, efficiency, capital adequacy, quality of assets, technological infrastructure and its contribution in gaining market share, as well as effectiveness in terms of organisation and operations. The award ‘Bank of the Year 2002 for Greece’ was received yesterday in London by Mr Emmanuel Bussetil, Member of the Board of Directors of EFG Eurobank Ergasias and Chief Financial Officer of EFG Bank Group. |