Press Release

Meeting of the Hellenic Bank Association with the European Stability Mechanism (ESM)

The Hellenic Bank Association (HBA) represented by the Chairman of the Board of Directors, Mr. Nikolaos Karamouzis, the Vice-President Mr. Vasileios Rapanos, the President of the Executive Committee Mr. Spyridon Papaspyrou, the Secretary General Ms. Charikleia Apalagaki and the Chairman of the CFOs Steering Committee Mr. Vasileios Psaltis met today in Luxembourg with the Managing Director of the European Stability Mechanism, Mr. Klaus Regling.

HBA’s delegation had the opportunity to present to Mr. Regling and ESM’s executives the improvement of key figures of the Greek banking system during 2016; as well as the challenges it faces in particular with respect to liquidity and effective management of non-performing loans. It was highlighted that Greek banks reached breakeven despite the difficult operating environment, and maintain levels of capital and reserves to meet the ambitious targets to reduce NPLs over the next three years; while it was outlined that the achievement of those targets is closely dependent on the reduction of uncertainty and overall improvement of economic conditions.

During the meeting, which was conducted in a cordial atmosphere, ΗΒΑ’s representatives confirmed the willingness of the Greek banks to cooperate with the authorities and all involved parties, including the ESM, in order to successfully address the significant challenges that the Greek banking system is facing; while also enforced the commitment of the banks to contribute on the restart of the Greek economy, supporting the country’s effort to return to growth.