Leonidas Frangiadakis

The National Bank of Greece's deputy chief executive, Paul Mylonas, has been appointed its new CEO after Leonidas Frangiadakis resigned in May.

The economist has been the acting CEO at National Bank, Greece's largest lender by assets, since his predecessor's resignation, and deputy CEO since June 2014.

The chief executive of Greece's second-biggest lender, National Bank of Greece (NBG), Leonidas Frangiadakis, submitted his resignation on Friday, after a request by the bank's board, sources said.

National Bank of Greece signed an agreement with the European Investment Bank, the European Bank for Reconstruction and Development and the European Investment Fund on Monday for the supply of 300 million euros aimed at supporting Greek enterprises, based on the participation of the EIB, the EBRD andthe EIF in a securitization transaction executed by NBG two months ago.

Louka Katseli, Chair of the Greek Banking Association, told private SKAI TV that if there is no solution to Greece receiving Emergency Liquidity Assistance (ELA) from the European Central Bank, then Greek banks would have a problem by Monday.

By Yiannis Papadoyiannis

Piraeus Group head Michalis Sallas is poised to become the new president of the Hellenic Bank Association as soon as the administrative changes at the National Bank of Greece are completed.