Pancreta Bank’s dynamic entry into shipping is an important pillar of our strategic planning, its CEO, Antonis Vartholomeos, said in an interview with “Naftemporiki” and Michalis Psilos.
“From the first moment of its activity in maritime banking, Pancreta offers integrated services to meet the operational needs of shipping companies, with solutions and products adapted to their specialized needs,” he noted.
“Our aim is for Pancreta to be the bank that will essentially support the small, medium-sized entrepreneur and the self-employed”, he explained.
Regarding the prospect of the merger of Pancreta with Attica Bank, Antonis Vartholomeos emphasized that “it is a strategic move of great importance, which will create new conditions of competition in the domestic banking system, as the new organization together with the other smaller banks will form the fifth banking pillar.”
A few days ago Posidonia 2024, the most important Greek shipping exhibition, was concluded. We saw Pancreta Bank participating in Posidonia for the first time. What led the bank to get involved in shipping finance?
“It was indeed the first participation of the Bank in Posidonia, sealing the very good start made by our bank in the area of shipping finance. A year ago we decided to become active in shipping finance, creating the Senior Shipping Banking Division, bringing together competent and experienced executives. Pancreta’s dynamic entry into shipping, in an extremely important industry that together with tourism I would characterize as the vanguard of the Greek economy, was not a random move, but an important pillar of our strategic planning. Our bank, from the first moment of its activity in shipping banking, offers integrated services to cover the operational needs of shipping companies, with solutions and products adapted to their specialized needs.”
In a short period of time, Pancreta, with the Shipping Division, has managed to create a very important shipping portfolio. What are Pancreta’s next steps in the field of shipping finance?
“It is very positive that within a few months, Pancreta has managed to gain a significant share of the shipping market, with the creation of a portfolio consisting of small, medium and large shipping companies. At the same time, our bank managed to register an increase in deposits and parallel operations, meeting the daily needs of the shipping clientele with competitive services and pricing. Its ‘entry’ into shipping finance was marked by its presence on the list of Petrofin Research’s annual report. From the beginning, the big ‘bet’ for our bank was the immediate response, with speed and flexibility, to the requests of the customers, a bet that has been successful so far. In the near future, Pancreta Bank will emphasize the development of both its loan portfolio and parallel operations with continuous adoption of the best market practices, so as to be a reliable partner and collaborator of shipping companies.”
What is the main objective of Pancreta, especially at this time, when businesses and households are asking for support?
“Lately there has been a lot of discussion about how small and medium sized entrepreneurship can be supported and to what extent the banking system can fulfill this role. Our aim is to be the bank that will essentially support the small, medium-sized entrepreneur and the self-employed. ‘Key’ to strengthening the relation between small and medium sized entrepreneurship and banks is consulting and personalized service. Our bank wants to be a true ally of small and medium-sized businesses, which through its specialized staff focuses on the needs and offers advantageous solutions for small and medium-sized businesses and the self-employed.”
In the summer of 2023, Pancreta absorbed HSBC Greece, succeeding, among other things, in making its presence more visible throughout the country. How easy was this process and what was the “key” to the success of this absorption?
“The process of absorbing HSBC Greece was a particularly difficult and complex process. One could say that it is equivalent to a ‘feat’. Within a very short period of time a project was completed that required a high level of handling, organization and extremely good cooperation between all parties involved. To understand the complexity of the venture, the two banks operated as two separate organizations until the very last moment. They finally came together in one weekend, after of course a lot of preparation and detailed elaboration of all possible scenarios. After the completely successful absorption of HSBC Greece, Pancreta strengthened its human resources and its branch network and substantially improved its position in the banking market of our country”.
Lately, we have been hearing about the merger process with Attica Bank, while the so-called fifth banking pillar is dominating the news. What will such a move contribute to and how will customers benefit?
“The creation of the fifth banking pillar will undoubtedly work in favor of the customer, as it will create more competitive conditions in the entire banking market. In this context, the strengthening of smaller banks or the creation of new ones is supported by the Bank of Greece, which is also a supporter of the project of the merger of Pancreta – Attica Bank, as is our main shareholder, Thrivest. The merger of Pancreta Bank and Attica Bank is a strategic move of particular importance, which will create new competitive conditions in the domestic banking system, as the new organization together with the other smaller banks will form the fifth banking pillar. I am optimistic that the important efforts of the previous period will be crowned with success and the new bank will soon be a reality.”
