Funding the real economy the biggest challenge for Greek banks
Bank executives have repeatedly noted that banks were not ready to focus on their core banking operations, related with funding households and enterprises, in order to win the big bet of a sustainable growth of the Greek economy.
Credit to the private sector have fallen to historic low levels in recent years. The Bank of Greece on Wednesday said that the annual rate of credit to the domestic private sector was -2.2 pct in November, from -2.0 pct in the previous month, or a monthly negative flow of 458 million euros.
Banks will emphasize on funding viable and innovative business plans, while they will offer support to any demand for mortgage and consumer credit by Greek households.
Another big challenge for banks is the return of deposits which will further boost their liquidity and ability to fund the Greek economy. A return of deposits will be a determine factor for the lifting of capital controls in the country.
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