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A new organizational model for the servicing of enterprises.

In today’s globalized and competitive environment, Greek enterprises have to deal with numerous challenges and risks, while maintaining, at the same time, a rapid pace of growth.
In today’s globalized and competitive environment, Greek enterprises have to deal with numerous challenges and risks, while maintaining, at the same time, a rapid pace of growth. Vigorous Greek enterprises are vital to the development of the Greek economy.  Financial institutions with specialized knowledge and experience, capable of providing an integrated range of products and services, can help Greek companies achieve these goals.
With the aim of boosting competitiveness and developing entrepreneurship, the Management of EFG Eurobank Ergasias presented (Press Conference 01/04/2004) the new organizational model for the servicing of enterprises. Chief Executive Officer Mr. Nicholas Nanopoulos analyzed the philosophy and new strategy, stressing that the aim is the two-way improvement of effectiveness between enterprises and the Bank, resulting in the further development of Greek enterprises. For the implementation of this project, Deputy Chief Executive Officer of Eurobank Mr. Nikolaos Karamouzis referred to the new organizational structure and strategy of the Corporate Banking sector, which was completed in 2003. With a view to satisfying the individual needs and demands of each enterprise, specialized service networks for corporate clients have been developed:
  • The Corporate Banking Division for Large Corporate with two Service Units in Athens and Thessaloniki for firms with a turnover typically over €25 million, staffed with 30 specialized executives.
  • The Network of 42 Business Centers Units, present in the major cities for enterprises with a turnover of more than €2.5 million and staffed with 170 specialized executives
  • The Shipping Unit.
Today, Eurobank finances 7,500 large- and medium-sized enterprises, and 70,000 small-sized enterprises and professionals. The financing of these enterprises is over €9.5 billion, a sum which represents more than 6% of the total Greek Gross National Product and constitutes 15% of the total financing of enterprises in Greece. The financing provided to enterprises by Eurobank increases at a double-digit rate of growth, and Eurobank is one of the three major banks, based on the total amount of financing to Greek enterprises and Greek professionals.
For Eurobank Corporate Banking, each enterprise has special demands. The latter requires personalized service providing effective solutions to cover its diverse financial needs so that it can realise its growth plans. To this end, in this new operational model of Eurobank Corporate Banking, each enterprise is allocated a specially-trained “account officer”, who manages the relationship and who acts also as the liaison between the enterprise and the 19 specialized banking units, which cover the entire range of the enterprise’s needs. Each account officer is responsible for a limited number of enterprises, to service them, guide them and put them in contact with the Bank’s specialized units, where and when required. Through the intermediary of only one Eurobank executive, the enterprise is connected with operations related to Investment Banking, Leasing, Factoring, Imports-Exports, Insurance Services, Treasury, Real-Estate Services, Stock-Exchange Trading, Private Banking, Electronic Trade, staff payroll services and Credit Cards. These units are staffed with 400 specialized and experienced bank officers who provide innovative and effective tailor-made solutions from a range of composite products and services.
Aiming at the integrated support of the development of Greek enterprises also in the wider area of South-eastern Europe, Eurobank has a strong presence in Bulgaria through the Bulgarian Post Bank AD, in Romania through Banc Post SA and in Serbia-Montenegro through EFG Eurobank AD Beograd. Furthermore, in order to save precious time for client enterprises, new technologies and alternative networks (Internet Banking & Mobile Banking) have been made available, and it is possible to carry out transactions and updating through the upgraded service of “e-banking for enterprises” as well as by mobile phone, 24 hours a day.
Mr. Karamouzis also referred to a series of products offered to enterprises, adapted to their special needs, which aim to lift their capital-raising ability and to protect them against foreign-exchange and interest-rate risk. The solutions offered make it possible for the client to raise working capital with a predetermined maximum interest-rate limit for 3 or 5 years, to exchange a fixed with a floating interest rate and vice-versa, to securitize future earnings, to sell earnings through factoring, to raise capital from the firm’s real estate through sales & leaseback, to take out a composite bond loan, whose cost will be connected, e.g., with the trajectory of agreed indices, either of the enterprise or the market (e.g. the foreign-exchange price of commodities), and to cover the risk associated with the provision of goods through stock market futures transactions.
The new strategy of Eurobank Corporate Banking aims to provide the Greek enterprise an integrated set of products and services according to the needs of each enterprise. In so doing, it contributes to:
  • a more effective utilization of the company’s property
  • the raising of capital by means of modern methods which minimize cost, ensure the company’s cash flow and the optimal long-term distribution of liabilities
  • a more effective management of the company’s assets and liabilities
  • a more effective management of financial risks
    the integrated implementation of the company’s developmental vision and its growth in Greece and abroad.
With its new model, Eurobank Corporate Banking helps to improve the profitability of Greek enterprises, it boosts their competitiveness and supports their development while at the same time helping to create new jobs. Mr. Karamouzis invited Greece’s enterprises to a creative alliance of solidarity on competitive terms, thus also strengthening the country’s prospects.