Latest developments after a UK vote to leave the EU have created an adverse climate which is expected to affect negatively the economic outlook of European economy and will have possible negative effects -but not significant- on the Greek economy as well, Alpha Bank’s chairman Vasilis Rapanos said on Thursday.
Addressing the annual general shareholders’ meeting, Rapanos said “we hope that soon a way will be found for a smooth exit process to limit any negative consequences on economic activity”. The Greek banker said he expected the Greek economy to remain in recession in 2016 and to return to positive growth rates in the second half of the year as confidence is expected to be restored and structural reforms were implemented.
Dimitrios Mantzounis, Alpha Bank’s chief executive, in his address said that a new agreement reached between Greece and its partners could become the starting point of a course towards a final exit from the crisis, if it was to be fully implemented. He said that Alpha Bank’s goal was to offer long-term solutions to its customers and to raise the recovery value of NPLs through its strong capital base, a favorable legal and regulatory framework and an increased operating ability to deal with NPLs.
Source: ΑΝΑ-MPA
