The country should improve its position as an attractive investment destination in order to attract part of the huge pool of funds that circulate worldwide and seek opportunities, said the President of Piraeus Bank George Hantzinikolaou, speaking today at the Delphi Forum, during the discussion on the developments in the Greek banking sector.
Mr. Hantzinikolaou stressed that it is crucial that investments in the country are “welcome” in the sense of implementing the necessary reforms, such as reducing bureaucracy, faster resolution of legal disputes, facilitating entrepreneurship, etc.
The financing will follow if there are sustainable investment plans, he stressed, and in fact, he added, the Greek economy has many financial tools, through which all sustainable projects can be supported. The strong banks that have increased liquidity, the resources of the Recovery Fund, the Athens Stock Exchange, which in 2021 raised funds amounting to 5.9 billion euros, make it easy to finance business plans, provided that there is a demand for sustainable investments, said Mr. Hantzinikolaou. In order for there to be growth, investments are needed and in particular, remarkable investment projects, while the financing follows, he stressed.
Asked about the inability of some companies and individuals to access the banking system, the president of Piraeus referred to the reality of non-performing loans which, while being transferred from the bank balance sheets, remain in the economy, preventing for these borrowers the normal financial activity. As he said, the operation of the bankruptcy law can give them a real second chance to return to normalcy.
Referring to the digital transformation of banks, Mr. Hantzinikolaou noted that digital developments are a catalyst for the banking system. “Investing in technology helps banks in terms of costs, that is, reducing costs, simplifying and automating processes while taking more time to contribute to revenue. But it is certain that we are in a new, competitive environment but the banking system, in relation to fintech, has the advantage of loyalty, trust from the customer while it evolves by improving the provision of services “, he underlined.
Source: Capital
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