Eurobank, among the largest lenders to Greece, should follow an autonomous and more independent course, said its new chief executive officer on Friday. This announcement is seen to overshadow plans to push through with the recently suspended merger with peer National Bank.
Greece's international lenders, the International Monetary Fund and other European economies, wedged Eurobank's merger plans with direct competitor NBG due to fears that the new venture's sheer size would eclipse others.
"Our aim is for Eurobank to take part autonomously in the strategic restructuring of the banking system and return to the private sector as soon as possible," said chief executive officer Megalou in a letter to a staff during his appointment.
A former investment banker for Credit Suisse, Megalou, was appointed on Thursday by the Hellenic Financial Stability Fund or HFSF, the country's bank rescue entity.
"The bank's autonomous course is a must, therefore let's leave behind any worries related to the pending merger," said Megalou.
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