Non-performing loans issue ripe for final settlement

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Posted on March 29, 2017, 1:33 pm
2 mins

We are and always be actively present in every development activity and every investment initiative, on the side of enterprises and together with businessmen,” George Handjinicolaou, chairman of Piraeus Bank said, addressing a special event held at the Acropolis Museum.

The Greek banker said that Piraeus Bank Group’s business loans surpassed 2.0 billion euros in the 2015-2016 period, on an annual basis, and said that the aim was progress made in the bank to be channeled to its customers.

Handjinicolaou said the country needed to adopt a new growth model, based on healthy business activity and operating strictly on private finance criteria to highlight the country’s comparative advantages, creating value and wealth and employment, social cohesion and prosperity. Referring to Piraeus Bank, he said the bank has made significant steps towards strengthening corporate governance and transparency. “Today, the bank has one of the best bank boards in Europe in terms of experience, know-how, talent and ability,” he said. He added that a personal and collective goal was to climb higher together with customers.

“I acknowledge the work of Greek businessman, which might be the most difficult and most demanding in Europe,” Christos Megalou, CEO in Piraeus Bank said in his address. Megalou referred to the main problem of the country’s banking system and of the Greek economy, non-performing loans and said that the issue was now ripe for final settlement.

“Learning from mistakes made in the past, we proceed to a restructuring of the business landscape which will be based on economic recovery,” Megalou said, adding that “only economic recovery will bring enterprises back into a profitable orbit. In this process, Piraeus Bank will play a leading role again,” he noted.

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