Hellenic Banking Association meets with ECB’s Danièle Nouy and Benoît Coeuré

In the course of a comprehensive series of meetings programme of the Hellenic Bank Association (HBA) and the top management of its member banks with the supervisory authorities, two meetings took place in Frankfurt on Monday, January 15, 2018 with the Chair of the Supervisory Board of the Single Supervisory Mechanism (SSM), Ms. Danièle Nouy and the member of the Executive Board of the European Central Bank (ECB), Mr. Benoît Coeuré and their colleagues. HBA was represented by the Chairman of its Board of Directors and Chairman of Eurobank Ergasias, Mr. Nikolaos Karamouzis, the Chief Executive Officer of Piraeus Bank, Mr. Christos Megalou, the Chief Executive Officer of National Bank of Greece, Mr. Leonidas Fragkiadakis, the Chief Executive Officer of Eurobank Ergasias, Mr. Fokion Karavias, the Deputy Chief Executive Officer of Alpha Bank, Mr. Spyros Filaretos, the Deputy Chief Executive Officer and Chairman of the Executive Committee of HBA, Mr. George Aronis, and the Secretary General of the HBA, Ms. Charoula Apalagaki.

The HBA representatives had the opportunity to present the significant improvement of key figures of the Greek banking system during 2017; as well as the future planning and actions of banks with respect to liquidity, effective management of non-performing loans, compliance with supervisory and regulatory requirements, the swift adoption of the new IFRS 9 accounting standard and the gradual return of the sector to regular status.

During the meetings, the HBA representatives repeated the commitment of the Greek banks to fully cooperate with supervisory and regulatory competent authorities and to implement all the targets and necessary adjustments, in order to successfully meet the significant challenges the Greek banking system is facing; whereas also to be in line with the new supervisory framework and to achieve a gradual return to regularity.

Working Lunch Meeting in Frankfurt

Also, a working lunch meeting took place at the premises of the Deutsche Bundesbank in Frankfurt, following the invitation of its President, Dr. Jens Weidmann, with German and Greek Central Bank representatives, the German Ambassador in Greece, Mr. Jens Plötner, and high ranking executives of commercial banks and the business community of the two countries.

The Greek delegation included the Governor of Bank of Greece, Mr. Yiannis Stournaras, as well as the Hellenic Bank Association (HBA) and in particular its Chairman of the Board of Directors and Chairman of Eurobank Ergasias, Mr. Nikolaos Karamouzis, the Chief Executive Officer of Piraeus Bank, Mr. Christos Megalou, the Chief Executive Officer of National Bank of Greece, Mr. Leonidas Fragkiadakis, the Chief Executive Officer of Eurobank Ergasias, Mr. Fokion Karavias and the Deputy Chief Executive Officer of Alpha Bank, Mr. Spyros Filaretos. On behalf of the Hellenic Federation of Enterprises (SEV), the Chairman of its Board of Directors, Mr. Theodoros Fessas, its Vice Chairman, Mr. Evangelos Mytilineos and the member of its Board of Directors, Mr. Michalis Stasinopoulos, participated as well. The Greek Tourism Confederation (SETE) was represented by the Chairman of its Board of Directors, Mr. Yannis Retsos and Mr. Eftihios Vassilakis, Vice Chairman of SETE.

During the working lunch meeting the challenges that the German and Greek economy are facing and the conditions under which their domestic banking systems operate, were discussed. The improved economic and financial environment in Greece and the investment opportunities emerging in the country after many years of recession and significant institutional and structural changes were also presented. It was stressed out that the ongoing continuation of reforms and privatizations; the creations of a friendly business environment for investment; and attracting foreign capital are critical preconditions for achieving a sustainable development path and returning Greece towards a climate of economic normalcy, as well as improving the image of Greece on the German and international markets.

The Greek delegation warmly thanked the President of the Deutsche Bundesbank and his colleagues for the invitation and reaffirmed the intention of the three private sector representatives (HBA-SEV-SETE) to continue taking up positive initiatives and interventions for the Greek economy in order to further enhance the Greek-German economic relations and strengthen the growth prospects in Greece.