The newly appointed Finance Minister Kostis Hatzidakis will meet with representatives of the Hellenic Bank Association (HBA) and the CEOs of credit institutions. Both sides will participate in the dialogue with a common purpose and goal: the financing and growth of the Greek economy.
The bank representatives are expected to stress that the credit expansion in June, after five months of negative performance, was recorded as positive for a number of reasons, such as the end of the election period, the contribution of the Hellenic Development Bank with important programs and the launch of programs under the Recovery and Resilience Facility (RRF).
However, the ministry sees as a problem, and indeed an important one, the large gap in deposits and loans interest rates, which it can only address in an operational way. For example, it could take measures that would enhance competition, such as the bank credit expansion, i.e. loans, from non-banking institutions, based on best international practices, and the abolition of the special taxation on the interest of Greek state treasury bills and bonds.
Another goal is shrinking the participation of the Financial Stability Fund in the banking system, a development that will send an international message of the dynamic course of Greek banks.
The bank representatives will also inform the minister that cooperation of the banks and the bad loan management companies with the Special Secretariat for Private Debt Management is underway in order to reach an agreement for improvements related to the out-of-court-settlement.
Moreover, banks and servicers focus on the issue of protecting the vulnerable citizens, which was also stressed by Giorgos Georgakopoulos, Intrum Hellas CEO, a servicer that recorded significant successes in the management of bad loans.