Eurobank chairman Nikolaos Karamouzis focused on the improvement of the conditions in the Greek banking system as well as on the challenges they have to address during a speech at the investing forum Capital Link in New York on Wednesday.
He underlined that in 2016 Greek banks returned to profitability after six years of losses and that progress has been achieved in improving liquidity, in the number of non-performing loans and in cost rationalisation.
Referring to the challenges they face, he focused on the slow rate of deposits recovery and on the reduction of the reserve of non-performing exposures (NPEs) which total 106 billion euros and require, as he claimed, an effective management of the inventory provisions and guarantees by offering to clients sustainable long-term solutions.
Karamouzis also said that the banks’ full access to the markets, the significant recovery of deposits and a speedy return to normality are linked, in general, with the improvement of the macroeconomic and political environment and of course with the full restoration of market confidence and the credibility of economic policies – factors that can’t be controlled by the banks.
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Source: ANA-MPA
