A positive surprise for Greece will be tourism this year, despite the war in Ukraine, with revenues expected to reach the levels of 2019, which was the best historical year for the industry, said Christos Megalou, CEO of Piraeus Bank in interview he gave earlier on Bloomberg TV in London, on the occasion of the presentation of the Bank’s Business Plan 2022-2025.
Mr. Megalou estimated that despite the difficulties arising from the international environment, Greece will remain in positive growth rates. “We believe that inflation will be normalized from 6% – 7% and will stabilize in 2023 at the European average around 2% – 3%. Growth will be around 3% -4% this year and will help to alleviate inflationary pressures “, he stressed, pointing out that Piraeus has incorporated all these forecasts in its planning.
Among other things, Mr. Megalou stated that Piraeus Bank has managed to significantly reduce non-performing loans, while their ratio is projected to fall below the European average, which will allow the distribution of dividends from 2024, depending on with the return and progress of funds and the approval of supervisory authorities. “In the business plan we have announced we focus on growth through asset management, our real estate strategy and the utilization of digital. Our goal is organic development in the next 2 years and the core of our strategy is the further expansion of the position of Piraeus “as a leading factor of stability in the Greek economy, which supports growth and innovation”, said the CEO of Piraeus Bank.
Source: Capital
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