Greece's "troubled banks of the past" have become some of the most desirable assets in Europe, Elias Xirouchakis, managing director of the HFSF, told Bloomberg. "We are now seeing very competitive banks on a pan-European level," he added.

"The safety net of the state was withdrawn, but this happened at a time when banks were already showing very strong signs of recovery," Xirouchakis stressed. "It was the right time for us to withdraw," he was quick to add, speaking to the international news agency.

According to Bloomberg, stronger balance sheets and higher profits mean that major Greek banks were able to pay dividends this year for the first time since 2008. The economic recovery has helped attract foreign investors, as the country's sovereign debt received investment grade status last year.

The sale of a stake in National Bank was added to a program that has earned the Greek government €3.5 billion over the past 12 months and has effectively returned the entire industry to the private sector, with the speed of these sales making Greece an exception, but not the only one returning banks to investors.

From Ireland and Italy to the UK and Germany, European governments are selling shares they have held since the financial crisis. They are using the rising valuations to cover huge budget deficits before falling interest rates start to affect bank profitability again.