In addressing the bank’s general shareholders’ meeting, Psaltis focused on the decisive reduction of non-performing exposures by making use of the bank’s high capital adequacy.
“We are already in advanced discussions with the preferred investors and we hope, in a short period, to have binding offers and to enter the final stage of completion of this big transaction within the current year. The completion of Galaxy will allow us to achieve the front-loaded improvement in the quality of our assets and to take another important step towards achieving the profitability goals we have set, “stressed Psaltis.
Finally, referring to Greece’s medium-term prospects, Psaltis stressed that it is obvious that through the crisis an opportunity arises for a new, sustainable, and more productive model of our country.
The financial system will be at the center of this challenge through two major undertakings that it has undertaken and which I believe will drastically change business activity. The first is the management of non-performing exposures, which will lead to changes in the country’s business map, contributing substantially to the strengthening of healthy competition. The second concerns the national project to fill the investment gap created by the previous long-term crisis and further complicates the new recession of 2020, he added.