This research paper constitutes an empirical analysis of the performance of the Greek banking sector over the period 2002-2015. Having highlighted the complex and tough environment within Greek banks operate, the trajectory over the fourteen-year period of carefully selected financial ratios related to bank performance is presented. In the next part, the entire period is divided into two equal subperiods; the pre-crisis period (2002-2008) and the period during crisis (2009-2015). Building on a new perspective for analyzing the effect of structural changes on bank performance, it is proved, through the multiple regression analysis, that the external forces, such as Gross Domestic Product, do not constitute significant influencing bank profitability determinants. On the other side, the results related to factors internal to the banking institutions are not so uniform. However, the Equity to Total Assets ratio is proved to significantly affect profitability and to retain this attribute throughout crisis.
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