# Greek construction sector and banking stability

> Live situation record from CLSTR: https://clstr.news/situations/greek-construction-sector-and-banking-stability
> Updated: 2026-09-21T04:00:32.000Z. Sources: 4. Developments: 2.

GEK TERNA recently announced a new growth phase, citing a strong order backlog of 8.9 billion euros in its construction division and increased traffic in its Attica Odos concessions. The company reported significant financial flexibility, noting that the parent company remains debt-free with 280 million euros in net cash.

However, intense competition for large-scale infrastructure and Public-Private Partnership projects between GEK TERNA and Aktor has raised concerns regarding Greek banking stability. Analysts and an IMF report have highlighted risks associated with high loan concentration, noting that 81% of banks' Tier 1 safety capital is tied to exposure to the ten largest corporate debtors. This concentration suggests that financial difficulties for major players in the construction sector could cause shocks to bank capital.

## Timeline

### 2026-09-21: Greek banking stability concerns rise amid construction sector competition

Competition between major Greek construction firms like GEK TERNA and Aktor, alongside high corporate debt concentration in banks, is raising concerns about national financial stability.

2 sources. https://clstr.news/cluster/greek-banking-stability-concerns-rise-amid-construction-sector-competition

### 2026-09-17: GEK TERNA enters new growth phase with strong backlog and cash flow

GEK TERNA CEO Giorgos Peristeris announced a new growth phase for the Group, citing a strong 8.9 billion euro construction backlog and significant infrastructure opportunities in Greece.

2 sources. https://clstr.news/cluster/gek-terna-enters-new-growth-phase-with-strong-backlog-and-cash-flow

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Cite as: Greek construction sector and banking stability. CLSTR, https://clstr.news/situations/greek-construction-sector-and-banking-stability