The government wants a robust banking system, with competition among banks, Economy and Finance Minister, Kostis Hatzidakis, said during his speech at the event for the presentation of the new corporate identity of Piraeus Bank.
“Greek banks managed to make the transition from the era of crisis and recapitalizations to the era when high-quality investors are actually expressing interest in them. This did not happen by chance, we managed to do it,” Hatzidakis noted and added:
“And this success is the policy of this government, which focuses on the growth of the economy, recognizing that banks have a vital role in this development process, as is the case in all advanced countries of the world.”
Greek banks “are strong again and ready to focus on what their job is: financing and supporting the real economy.”
The initiatives of the Ministry of Finance
“Our government wants a robust banking system, with competition between banks. A banking system that will provide attractive returns to depositors and liquidity to businesses and households,” noted Hatzidakis.
The initiatives of the Ministry of National Affairs and Finance are also moving in this direction, such as:
-Institutionalizing the possibility for non-banking institutions to grant loans, in addition to consumer and housing and some kind of business loans.
-The support of the IRIS system, with low or zero transaction fees.
-50% reduction in commissions for small transactions up to 10 euros via POS.
-The promotion of the so-called fifth pillar of the Greek banking system.
In addition, the minister reiterated that the non-performing loans in the banks’ portfolios have dropped below the “psychological limit” of 10 billion. As he said, deposits have increased by 50 billion euros, bank credit expansion has strengthened compared to 2019, while for the first time after many years the Greek banks are profitable again.
“This strengthens their prospects for the future, increases the revenues of the State, but also their contribution to the national economy”, he emphasized.
