The Efficiency of the Greek Banking System and its Determinants

Abstract

This study examines the efficiency of the Greek banking system for the period 1994- 2006 using DEA. The findings suggest that total efficiency improved and this is mainly attributed to allocative efficiency. Large- and small-sized banks appear more efficient compared with medium-sized ones, while the M&As have had a positive impact on efficiency. Capital adequacy, size, profitability and credit risk management were positively correlated with efficiency, whilst banks holding a significant market share appear to have improved their efficiency through better management of their resources rather than following collusion strategies. Finally, the effect of the macroeconomic environment on efficiency was not found statistically significant.

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