Provopoulos noted that Greek banks are among the best capitalised institutions in Europe adding that a very large degree of consolidation has been achieved. He said that over the last four years the number of banks has been reduced drastically, their costs have been slashed significantly resulting in a more compact, efficient and competitive banking system.
The Governor of the Bank of Greece also pointed to the significant progress that has been made by the economy towards fiscal adjustment. At the same time he said Greece is regaining its competitiveness, while the government has been successful in dealing with a current account deficit and promoting reforms.
As a result of the above, he added, "a return to growth - Grecovery - was underway".
It should be reiterated that Provopoulos' term at the helm of the Bank of Greece ends in June.
The event was attended by prominent executives from international investment firms and institutional portfolios, such as JP Morgan, Fidelity, Citadel, Aviva, Eton Park, etc.
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