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EFG Day Rhodes

“In the islands of the Dodecanese conditions are there for the development of dynamic and innovative private entrepreneurial activities, focusing on Tourism, Leisure and Culture, three areas with significant comparative advantages. The broader tourist industry in our country contributes approximately 18% to GDP while competition is steadily becoming stronger. On the part of enterprises serious and careful planning is  required, as well as adjusting to developing market needs, quality, consistency, efficient organisation and competitive costs. The state and local government must give higher priority to the broader sector of tourist services, while emphasis should be put on infrastructure development, improved land planning and environmental quality upgrading. Special attention should also be paid to labor market flexibility and cost to make tourism a life experience that will enhance our country’s image internationally and create thousands of new jobs.” The above was stressedduring a speech by Eurobank EFG CEO, Mr. Nicholas Nanopoulos, at a dinner in Rhodes (Wednesday, May 3rd 2006) that was attended by the Dodecanese authorities and many entrepreneurs. N. Nanopoulos said that Banks play a creative catalytic role in the development process, adding that Eurobank EFG has created a comprehensive package of novel products and services, which covers any need of enterprises and entrepreneurs in the broader tourist sector.

In his concluding remarks, Eurobank EFG CEO mentioned that “the Greek economy faces the big wager of maintaining a strong development dynamic that will secure a future of prosperity and prospects. In a strongly competitive international environment, our country must modernise its structures, promote its comparative advantages, build on opportunities and respond to new challenges. The driving force for such a development effort can only be private entrepreneurship, which can bring to the economy the necessary flexibility, innovation and competitive profile. For its part, private entrepreneurship should focus on the quality and competitiveness of its products and services, building on and incorporating state of the art know-how and adopting effective management and administration systems”.

Meanwhile, during a tour of Eurobank EFG Management in the Dodecanese, theBank’s Deputy Managing Director, Mr. Byron Ballis, met in Rhodes with Chamber Boards for an extensive exchange of views on more effective ways of dealing with issues of concern to the business community. The discussion focussed on issues related to the promotion of the Community Support Framework programmes and actions in which Eurobank EFG is successfully involved at the level of evaluation  as well as implementation of related projects. For this purpose, the Bank has developed integrated programmes with the view to meeting any borrowing requirements and the discounting of government grants. The business community of the Dodecanese was also briefed on Eurobank EFG initiatives regarding interest rate insurance even for loans contracted by other credit institutions, particularly in a period of rising interest rates. B. Ballis referred in particular to the Bank’s special programmes for small firms and professionals.

Eurobank EFG has three branches in Rhodes and is planning to open a fourth; it also operates a business credit service on the island that meets the special requirements of medium-sized and large enterprises, as well as a branch of its Securities Company. The Bank also has a branch on the island of Kos and will be opening one soon on the island of Kalymnos.

During the visit to Rhodes, N. Nanopoulos and B.Ballis, accompanied by top Bank executives, met with the Regional Governor of the Dodecanese, Mr. Yannis Macheridis, the Mayor of Rhodes, Mr. George Giannopoulos and the Presidents of professional associations. They also paid a visit to the Metropolitan of the Dodecanese, Monsignor Kyrillos.-