Chinese interest in Greek banking sector in wake of plan to reduce massive exposure to NPLs

Monday, 11 November 2019 18:27
UPD:18:29
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Chinese interest in Greece's thrice-capitalized systemic banking system reportedly focuses on opportunities offered from implementation of the "Hercules" plan to reduce "bad debt" held by the country's four systemic banks.

A working lunch on Monday hosted by Deputy Finance Minister George Zavvos for the visiting Bank of China President Liu Liange and General Manager Zhou Lihong came within the framework of a veery high-profile official visit to the country by Chinese President Xi Jinpeng, who heads a very large delegation of Chinese officials, corporate executives and journalists.

According to reports, the Bank of China executives queried the Greek side on future plans by systemic banks after the NPLs-reducing plan is implemented, especially amid a more competitive environment, as well as the areas where their business models will concentrate.

BoC chief Liu and other delegation members were later received by Athens Mayor Costas Bakoyannis at the Town Hall.

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