The latest developments in the Greek and global economy, as well as the challenges arising from the crisis in the Middle East, were discussed today during a meeting between the President of the Eurogroup and Minister of Economy and Finance, Kyriakos Pierrakakis, and a delegation from the Board of Directors of the Hellenic Bankers Association.
The meeting took place at the Ministry of Finance and was attended by the Chairman of the Hellenic Bankers Association, Giorgos Zanias, along with the CEOs of the major Greek banks: Vassilis Psaltis (Alpha Bank), Fokion Karavias (Eurobank), Pavlos Mylonas (National Bank), Christos Megalou (Piraeus Bank), and Eleni Vrettou (CrediaBank). Also present was Haroula Apalagaki, Acting Director General of the Association.
Participants agreed that Greece’s strong fiscal position, combined with the robust capital adequacy and liquidity of its banking sector, enhances the resilience of the economy and its capacity to absorb external shocks. At the same time, they acknowledged the risks stemming from the current geopolitical environment. In light of ongoing tensions and heightened volatility, close cooperation between the State and the country’s productive forces was highlighted as essential for effectively managing potential crises, in support of the Greek economy and society.
According to a statement by the Hellenic Bankers Association, the banking sector’s contribution to supporting the real economy is evident in the strong growth of credit expansion. In 2025, based on ECB data, credit expansion reached 8.8%, more than double the eurozone average of 3.5%. For non-financial corporations, credit growth stood at 11.9% compared to 2.8% in the euro area, while mortgage lending returned to positive territory after several years of decline.
The Association also emphasized the crucial role of banks in facilitating the utilization of Recovery and Resilience Fund (RRF) loans. Investment activity has increased significantly in key sectors such as energy, tourism, and industry, with more than half of approved RRF financing directed toward small and medium-sized enterprises. Additionally, banks continue to actively promote Greece’s positive image abroad, highlighting its competitive advantages and supporting the attraction of foreign direct investment.
Regarding recent initiatives by the Ministry of Finance, reforms to the Extrajudicial Mechanism, along with the planned establishment of a Real Estate Acquisition and Re-leasing Agency—supported with €100 million by the four systemic banks—are expected to strengthen social cohesion.
This support forms part of a broader framework of Corporate Social Responsibility initiatives undertaken by Greek banks, including the flagship “Marietta Giannakou” program for the renovation of public schools. To date, €200 million has been allocated to the State, while an additional €100 million will be contributed in 2026 by the four systemic banks, as part of a total €400 million program.
The Hellenic Bankers Association reaffirmed its commitment to continued close cooperation with the State and relevant institutions, aiming to safeguard financial stability and promote sustainable economic growth, even under challenging conditions. It was also agreed that regular meetings will be established between the Ministry of Economy and Finance and the Association’s Board members to jointly monitor developments in the Greek economy and banking sector.
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