Return of Deposits up to 25 Billion Euros Possible, Karamouzis Says
Wednesday, 02 November 2016
Improving economic climate and business outlook could lead to a return of deposits up to 25 billion euros in the domestic banking system in the next 18 to 24 months, Eurobank's chairman Nikolaos Karamouzis said.
Addressing an event organized by the Hellenic Observatory of London School of Economics and Hellenic Bankers Association - UK, the Greek banker said that non-performing loans will begin falling from the first quarter of 2017 -unless there are any negative surprises in the Greek economy- something confirmed by prevailing trends in NPLs. He noted that it should be clear that reversing a trend in NPLs was not only related with their management by the banking system -which is necessary- but from the return of the country to a sustainable growth path, lifting capital controls and accessing capital markets.
Referring to the Greek economy, Karamouzis said that the government was implementing a third adjustment program with success in several fronts, such as privatizations.