Wednesday October 1, 2014 Search
Weather | Athens
26o C
17o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Alpha CEO: Lenders must pass back into private hands swiftly

Local banks need to make a fast return to private hands, Alpha Bank CEO Dimitrios Mantzounis stressed while addressing the lender’s general meeting on Friday. Vassilios Rapanos, the bank’s president, referred to a need for stability and the implementation of reforms.

Mantzounis described the pictured created by local banks’ recent share capital increases as “distorted,” noting that Alpha may have received the least support from the state but that the Hellenic Financial Stability Fund holds the biggest stake in it compared to HFSF holdings in the other systemic banks.

He noted that the warrants – i.e. the rights to buy back the shares held by the HFSF – were a very good way of attracting investors during the first recapitalization, but that conditions have now changed and investors are thirsty for Greek securities and therefore the process for the banks’ privatization has to be accelerated.

The Alpha CEO, speaking in the presence of Finance Minister Gikas Hardouvelis, new Bank of Greece Governor Yannis Stournaras and HFSF CEO Anastasia Sakellariou, also remarked that since the law allows for the alternative utilization of the warrants, banks should make the most of the favorable climate and speed up their return to private hands. He said that each lender should examine the issue and submit proposals for the best decisions to that end either via the Hellenic Bank Association or independently.

Concerning nonperforming loans, Mantzounis said there are signs of improvement, adding that a substantial economic recovery is necessary for the situation regarding bad loans to change markedly. He added that Alpha has strong capital reserves as its capital adequacy ratio stands at 15.6 percent ahead of this fall’s European Central Bank stress test.

Rapanos stressed the significance of a stable tax environment and the need for the modernization of the country’s public administration. He added that 2014 will be the year that the economy makes a small rebound, highlighting the improvement in competitiveness. The biggest challenge from now on, noted Rapanos, is to achieve a sustainable model of economic growth. He forecast that deposits will gradually return to banks when conditions improve further, allowing lenders to finance the economy.

ekathimerini.com , Friday June 27, 2014 (22:18)  
NBG Pangaea eyes listing on foreign bourse, huge portfolio
Out-of-control unpaid bills bring PPC to its knees
Banks feel optimistic ahead of stress test results
S&P upgrades OTE’s credit rating and revises outlook
Would-be commissioner Avramopoulos sets out priorities on migration
Dimitris Avramopoulos, the EU commissioner-designate for migration and home affairs, on Tuesday sought to set out his priorities for a post regarded as more crucial than ever amid increasing...
Money ring sent 4.5 mln abroad
Two Afghan employees at a currency exchange bureau in central Athens and a Greek alleged to own the establishment were detained on Tuesday in connection to the alleged illegal transfer of mo...
Inside News
SOCCER
All team sports suspended next weekend in memory of dead fan
The government announced on Monday the suspension of all team sports events in Greece scheduled for next weekend, October 4 and 5, in the memory of the Ethnikos Piraeus fan who died a few ho...
SOCCER
Karamanos punishes Michel for deeming him surplus
Atromitos forced Olympiakos’s first loss this season in all competitions on Saturday to allow PAOK to go alone on top of the Super League table on Sunday. Odds-on title favorite Olympiakos l...
Inside Sports
COMMENTARY
Next-day jitters
It is usual for Greek governments, whether one-party or coalitions (which are normally loath to actually work together), to claim that their only real challenge is dealing with the country’s...
EDITORIAL
No sweet debt deals
The lion’s share of Greece’s debt is held by European Union member states and the International Monetary Fund. A writedown of the European part of the debt would require the approval of the ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. NBG Pangaea eyes listing on foreign bourse, huge portfolio
2. Out-of-control unpaid bills bring PPC to its knees
3. Banks feel optimistic ahead of stress test results
4. S&P upgrades OTE’s credit rating and revises outlook
5. Athens tourism fuels hotel occupancy
6. Would-be commissioner Avramopoulos sets out priorities on migration
more news
Today
This Week
1. Next-day jitters
2. Roma camp off Mesogeion Avenue set for demolition amid reactions
3. No sweet debt deals
4. Greek unemployment dips to 27 pct in June, but still highest in EU
5. Commissioner-designate Avramopoulos to face three-hour interview on EU's migration portfolio
6. Roma camp evacuation postponed; flow resumes on Mesogeion Avenue
Today
This Week
1. Greece may opt for unusual president to avoid snap polls, Venizelos says
2. Woman allegedly buried alive by accident in northern Greece
3. Salaries in Greece continue to slide, dipping 1.4 pct in Q2
4. Should you bet with Kissinger on where the world is heading?
5. Cypriots divided by 1974 war seek Shariah hub
6. The shocking thought of euro-dollar parity
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.