A PYMNTS Company

Greece: Competition watchdog raids banks in pricing probe

 |  November 7, 2019

Greece’s competition authorities raided the country’s main commercial banks on Thursday, November 7, in a probe on pricing and commission practices, witnesses and bankers with knowledge of the matter told Reuters.

The probe was launched simultaneously at all of the country’s big banks with inspectors dispatched to head offices, in an unprecedented raid, the sources said. 

Inspectors raided the head offices of National Bank, Piraeus Bank, Eurobank, Alpha Bank, Attica Bank as well as the offices of the Greek bank association, bankers said. 

The body is looking into whether banks colluded on fees charged for bank transactions, banking sources said. 

“They are after us on the fees being charged,” one of the bankers told Reuters. “We were not allowed to leave the premises and they are copying the hard disks of all computers. But we don’t have anything to worry about.”

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.