Piraeus Bank chairman: Mergers only if conditions ripe

Piraeus Bank chairman Mihalis Sallas on Thursday expressed optimism over the course of the Greek economy and predicted positive European decisions regarding Eurozone member Greece in the near future.

Addressing an event organised at the Athens Stock Exchange, on the occasion of the successful completion of a share capital increase plan by the bank, Sallas said all Greek banks will successfully pass a new round of stress tests.

Moreover, he did not exclude any future mergers in the domestic banking sector, although he underlined that conditions must be "ripe" for such developments.

He underlined the significance of the confidence showed by foreign investors in Piraeus Bank's recent share capital increase plan, proof international investment firms' positive view vis-à-vis the Greek banking sector.

Sallas also said a recent round of successful share capital increases by other Greek banks was a vote of confidence for the sector.

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