piraeus bank group

Piraeus Bank participated at the «The new era of the Greek Financial Sector»: International Conference Sibos 2019

Piraeus Bank participated on September 24, at the“The new era of the Greek Financial Sector” conference that took place on the sidelines of the international conference Sibos 2019 in London, under the auspices of the Hellenic Bank Association and the Athens Exchange Group. The purpose of the event was to showcase the Greek Financial Sector and the progress made in the past couple of years. Representatives of the four systemic Greek banks and the Athens Exchange presented the financial, technological and banking advances the banks made thus far, and shared the plans for the immediate future.

Mr. George Hanjinicolaou, in his capacity as the Chairman of the Hellenic Bank Association as well as the Chairman of the Athens Exchange, was the keynote speaker. During his speech, he mentioned among others “The Greek Financial Sector has emerged from its challenges, and is moving steadily, confidently but also swiftly, into a new era of stability and growth, ready to finance the increasing attractive prospects of the Greek economy. The increase in GDP growth has led to increases in employment, and households' disposable income, among other things, and for first in some time, tangible increases in real estate prices. Most importantly, it has contributed significantly to the return of confidence and trust among economic participants with collateral benefits to the Greek banking system, as evidenced by the return of deposits to the Greek banks. Looking ahead, investments are expected to be a key driver for growth in the coming years as a more business friendly environment has emerged”.

During the first Session the Chief Economists of the four Systemic Greek Banks, presented in detail Greece’s economic outlook. With his speech, Mr. Elias Lekkos, Chief Economist of the Piraeus Bank, highlighted the prospects and the exporting orientation of the Greek economy. Mr. Lekkos focused on the analysis of the comparative surpluses of the Greek economy and underlined the need for both a qualitative upgrade of the Greek export products and the shift to relevant sectors with a higher technology and production capacity. Mr. Lekkos also stressed the fact that the competitiveness of the Greek exports has significantly improved during the recent period, which raises the expectations for further improvements of the Greek Exports performance, on the provision of the international trade recovery.

Senior executives from the four Systemic Greek Banks and representatives from the Athens Stock Exchange Group and the European Bank for Reconstruction and Development, discussed available financing solutions that can support growth prospects and investment opportunities during the second session. Mrs. Eleni Vrettou, Executive General Manager, Corporate and Investment Banking at Piraeus Bank commented: “Growth can come only through the establishment of a more business friendly environment that will be able to attract investments and create the right conditions for increasing employment, competitiveness and exports.  Piraeus Bank is a stable and valuable partner in these ever-changing conditions, supporting companies that promote the outward orientation of the Greek economy. Our aim, through the solutions and financial instruments we offer to businesses, is not only to cover their financial needs in the fullest and most efficient way, but also to offer valuable guidance, direction and information as to how they can maximize their economic benefits by organizing effectively their action in what is a continuously challenging international environment”.

During the last panel discussion entitled “Accelerating Greece & Embracing New Technologies”, technology and digital transformation leaders of Greek banks and the Athens Stock Exchange Group discussed about the progress of financial technologies in Greece. Mr. Stefanos Mytilinaios, General Manager, Group Digital Business of Piraeus Bank talked about the role bankers need to play in the post-crisis Greece and how digital contributes to both increasing efficiency but also, more importantly, increasing engagement with day-to-day as well as long-term financial planning. Mr. Mytilinaios talked about the role bankers need to play in the post-crisis Greece and how digital contributes to both increasing efficiency but also, more importantly, increasing engagement with day-to-day as well as long-term financial planning.  Mr. Mytilinaios mentioned among others: “Our strategy at Piraeus Bank is to transform everything we do, from any digital up to any physical transaction, with a customer centric view which will motivate and inspire our people to capture all possible benefits and opportunities in all the changes we materialize. Digital, in order to be effective, must “win people over”, not be enforced, and therefore must be both human and inclusive”.

Athens, 26 September 2019