Emporiki has opened three new branches
and kicked off a re-branding of its retail banking
Greece’s fifth largest bank by assets said the
re-branding is in line with parent group Crédit Agricole’s brand
and is reflected in an updated corporate identity and signage of
its branches, all promoted through a new advertising campaign
The strategy is the latest stage in the Greek
lender’s four-year restructuring and development plan, in an
attempt to return to profitability by 2011.
Crédit Agricole, has already written down €739m
($1bn) to enhance Emporiki’s Tier 1 ratio, in response to the
country’s escalating economic and financial woes.
But Crédit Agricole said it had no intention of
selling its stake in the Greek lender.
Branch revamps have already been applied to 20
Emporiki branches, with another 50 planned by the end of this year,
and a target of a third of the entire retail network by the end of