Greek companies invested about Euro17 billion in the Balkan.  One of the main targets of these investments was the banking sector. The expansion of Greek banks into this region shows its determination to become established financial and business player. Dr. Gil Feiler, an economic expert and writer, stressed Greece\'s growing economic power in the Balkan. In an interview with Emeconomy, Dr. Feiler mentioned the key position of Greece in the shipment and transshipment of crude oil and natural gas.  As for the banking sector, based on Dr. Feiler\'s estimation, the Greek banking sector should gain a market share of about fifth of the sector in the entire Balkan region.

Six Greek banks have a network in the Balkan namely Alpha Bank, Egnatia Bank, Emporiki Bank, Eurobank, National Bank of Greece, Pireaus Bank. Ionian Bank of Greece created a representative office in Bulgaria that was transformed to a branch after the acquisition of Ionian Bank from Alpha Bank.

In recent years, Greek banks make more than 10 percent of their profits from activities in the Balkans. For example: In 2006 the National Bank group profit totaled Euro 990 million out of which 20 percent was generated by the group’s operations in SE Europe and Turkey. Piraeus Bank Group\'s target is to be branded as a significant regional player in the banking sector of South Eastern Europe & Eastern Mediterranean. The net profits of Alpha Bank for 2006 amounted to Euro 625.9 million. 94 new branches were created in SE European countries (40 in Romania, 30 in Bulgaria, 14 in Serbia, 5 in Albania, 3 in FYROM, and 2 in Cyprus). The Romanian market was the most profitable one for Alpha. The bank\'s overseas network comprises 270 branches in 2006, and the target is to reach 500 by end of 2008. Loans to SE Europe increased by 35.8% and amounted to Euro 3.6 billion euros in 2006, while deposits reached Euro 4 billion.