Authors: Mihail Diakomihalis, Ioanna Sagka, Iliana Chatzi

Title: Variance of Greek banks efficiency before and during the financial crisis

Abstract

The main objective of this study is to reveal the reasons of the efficiency variance of the Greek Commercial Bank institutions listed in Athens Stock Exchange Market, during time period from 2006 to 2012.

The examined sample consists of thirteen (13) commercial bank institutions, and the analysis method undertaken is CAMEL indices. We have compared the findings of this study, with all major financial deals among Greek banks during the years 2006 – 2012 in order to reveal the true reasons that have affected the efficiency of the banks and their rating during the period under study.

Our analysis leads to the conclusion that the debt crisis that broke out in Greece in 2009 has brought substantial changes to the banking map. The banking system in Greece, in contrast to other countries, did not cause the crisis, instead it helped deal with it. However, it turns out that this contribution has caused irreparable damage to the system itself.