G. Bratakos: The purely technical evaluation criteria have replaced the bankers

“A lot of businesses are rightly not lent by banks, but if we use other more dynamic data for the assessment, data that reflects the prospects, the picture changes.” This was noted, among others, by the president of the Athens Chamber of Commerce and Industry, Giannis Bratakos, in a panel on the dynamics of Greek companies, in the context of a round table discussion organized today by the Delphi Economic Forum, in collaboration with Qualc.

Asked about the leaps in the direction of the digital transformation of the state and enterprises, Mr. Bratakos said that “the pandemic acted as a catalyst for further action, both for public and private companies. Many and important things have been done. Even more, modern networks should be built to enable the extended use of technology, the necessary infrastructure should be completed to take advantage of new opportunities in fields such as teleworking or telemedicine. It is necessary to reform the justice system and speed up the relevant procedures.Currently, funds that are at stake in a dispute are in danger of remaining dormant for up to 5 years, so the system needs to be strengthened institutionalized “.

The president of EVEA also referred to the issue of financing small and medium enterprises: “As a representative of the largest small and medium business, I would tell you that we have really identified the problem of the difficulty of financing small and medium enterprises in banks.”

He noted that the Chamber created a platform through which members could register their financial figures, in order to make a diagnosis of whether they were “cut” by the banks for better or worse. “A large part of these companies are not rightly lent by banks, but if we use for the evaluation and other more dynamic elements, elements that reflect the prospects, the picture changes.”

Mr. Bratakos attributed this situation to the annihilation of the bankers and the shrinking of the banks in the Region. “Indicators have replaced the banker. That is, the traditional bank executives, who were scattered throughout the territory, and who knew the local market, the market of each business and the dynamics of each business and evaluated whether or not it is worthwhile. bankers should take every business, see the business plan, if it is viable, see the industry in which the business is active, if it is sustainable, if it is growing.They should also see the area in which the business operates and if it has prospects, “It will receive EU funding to develop. All this is not being done. The purely technical evaluation criteria have replaced the bankers.” In closing, however, Mr. Bratakos noted that gradually the banks are realizing the problem and trying to change it.

Source: AMPE