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Yiannis Matsis: Hellenic Bank will be a Partner to Investors

Yiannis Matsis: Hellenic Bank will be a Partner to Investors

The problem of Cypriot banks with high non-performing loans was analyzed at the 2nd Cyprus International Investors Summit, by Hellenic Bank’s CEO Yiannis Matsis. "We also want to attract investors who will buy non-performing loans," he said.

Welcoming investors to Cyprus, Matsis stated that Hellenic Bank wants to be a partner to those who decide to invest.

Matsis also said that after the economic crisis, the private sector and the state decided to focus on attracting investment by taking a series of measures. One of them, he added, was the legislation on managing non-performing loans.

Referring to the banking sector in particular, he referred to the high level of liquidity. He noted that Hellenic Bank is looking to provide a loan for projects in areas such as tourism, energy and shipping.

Matsis focused on the situation in Cyprus in relation to the problem of non-performing loans and stressed that the new step by the banking institutions should be the involvement of external investors.

The first step in this direction is the participation of individuals through servicing, referring to the model of Hellenic Bank's cooperation with APS, for managing the non-performing loans of the banking institution.

Furthermore, Matsis said that the next step for banking institutions should be the direct sale of loans to individuals.

He then added that a secondary market for non-performing customers would facilitate sales, reduce the burden on banks and free up funds and resources to support new lending.

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