Qatar domino in the Greek banking system

Following the announcement of the merger between Eurobank and Alpha, developments in the domestic banking sector are expected to be rapid The agreement has the seal of the State of Qatar, which will contribute 500 million directly (and an additional 1 billion over the next year), creating a new status quo in the Greek financial system.

Given that the rest of the Greek banks may need new capital to strengthen themselves, it is possible they will look to large foreign banks (French, German) for fresh money.

According to information, the state of Qatar will be the major shareholder in the merger, with a cut close to 20%. The Latsis family will own 16-18% and Kostopoulos family 4-5%. But the new bank will be run by Yannis Kostopoulos as the executive chairman. Two CEO positions will be created that will be taken up by Dimitris Mantzounis and Nikos Nanopoulos.  
 
What will happen to branches and employees

At the same time there is concern within the staff of the two banks, as the new super-bank has about 800 stores throughout Greece. Only 5 of its branches are in Neo Psychico and Filothei on Kifisias Avenue, which means that if there are no surprises there will be a large reduction in the number of branches.

And this means that practically there will be mergers and layoffs of employees.

Official announcements regarding the deal that creates the largest bank in Southeast Europe, with 150 billion in assets, 80 billion in deposits, 8 million customers and 2.000 branches in 10 countries, are expected on Monday.