Presentation by the CEO of Alpha Bank Mr. Vassilios Psaltis

The Alpha Bank Chief Executive Officer Mr. Vassilios Psaltis highlighted Greek economy’s important potential, with tourism as the main engine, as well as Alpha Bank’s active participation in economic growth, while addressing representatives of the business community at an event organised by the Bank on Tuesday, May 14, 2019, at Heraklion in Crete. 

Greek economy is finally growing, after a 25% contraction, Mr. Psaltis pointed out, while confidence is gradually restored and private deposits are steadily returning back to the system. He estimated, nonetheless, that the return of growth to pre-crisis levels requires, among other things, consistent yearly growth rates of 3%-4% over the next few years, with a significant increase of incremental investments, which should rise by additional Euro 20 billion per annum, of which Euro 4 billion should go to the tourism industry. 

The growth of tourism has been mostly based on the increase in arrivals, while greater attention is expected to be paid to the average spend per visit as well as the greater length of stay, according to Mr. Psaltis. Crete, which is known for providing quality services, can set an example for the country’s overall tourism growth, and has significantly upgraded its tourism infrastructure and achieving a steadily high occupancy rate. 

Alpha Bank actively supports growth, invests in modernisation and digital innovation and consistently improves its products and services, in order to meet its Customers’ evolving needs in the best possible way, the CEO said. 

International Relations expert and Director of Research at the Institute of International Relations Dr. Constantinos Filis analysed, in a presentation titled “Greece in a changing world”, the geopolitical and energy challenges associated with the region and further stressed the importance of ensuring stability for the island’s economic prospects. 

Executives from the Alpha Bank Financial Products Division presented the latest specialised financial tools available to the Bank’s Business Customers, designed to reinforce healthy businesses’ development plans. 

It should be noted that Alpha Bank frequently organises events that are designed to provide direct information and to exchange views with businesspersons and institutions around Greece, regarding the prospects of the economy and businesses at national and local level.