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This research aims to examine the importance of Greek banks' internationalisation. Further, it seeks to identify the entry modes and organisational forms adopting Greek banks when crossing borders as well as to suggest a modelling approach.

Empirical data were collected by using secondary and primary data sources. Primary data sources included semi‐structured interviews with the key stakeholders in the industry.

This research identified that Greek banks, adopt foreign direct investment entry mode and organisational forms such as branches and representative offices (internal growth), as well as subsidiaries and affiliates (external growth). It also was found that the participating in this research Greek banks, combine the two types of growth in their foreign markets entry. This study identified that the balance of combination is dependent upon a number of reasons and factors.

The study contains several shortcomings. The empirical study, for example, contains only three cases, which naturally raises the problem of generalization. Further, the theoretical view may contain conceptual elements, which hinder more specific observations. However, despite these limitations, the study contains some theoretical and managerial implications.

The paper reports on the findings of the one of the first in its kind research study carried out in Greece in the Greek banking sector. The findings that emerged set the foundation for helping the various stakeholders in the sector to contribute towards building strong international presence to help them sustain the fierce competition from foreign banks.