“We will not be absent from any big investment plan,” Fokion Karavias, chief executive of Eurobank said on Friday, adding that the bank has made all the necessary moves to safeguard the necessary liquidity.
Addressing an event to inaugurate the bank’s second branch in Santorini, Karavias said: “You might think that this is an exaggeration, since we have not yet left the conditions of tight liquidity prevailing in the economy in the last years. This is correct, but Eurobank has made all moves necessary to safeguard the necessary liquidity. In this framework we have signed cooperation agreements with top international organizations, some of which are our shareholders, such as European Investment Bank, the European Investment Fund, European Bank for Reconstruction and Development, particularly to fund extrovert Greek enterprises in the product and services sectors, with top priority tourism. Until now, these agreements totaled 500 million euros and we have plans to expand them.”
The Greek banker noted that there was a tight liquidity in lending, but stressed that “Eurobank is a leader in funding of all large investment plans currently implemented in Greece and these are focusing on tourism. We have the know-how and it was no accident that Eurobank was the Greek bank that funded a 400-mln-euro deal for the entry of Oaktree Capital -one of the biggest international funds- in the Sani Hotel complex in Chalkidiki. We have active participation in the sale of HIlton Athens to a group of Greek and foreign investors”. He added that Eurobank has the liquidity, the know-how and the right staff to move forward together. “We have liquidity, know-how and the human resources and together we can support our customers’ business plans,” Karavias said.
He said that Santorini is an model on how tourism and other sectors of the economy should move and noted that tourism was spearheading the country’s export orientation and stressed that Eurobank has the biggest tourism portfolio among Greek banks, totaling 1.5 billion euros.
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