Greek banks will manage e-auctions properly, Eurobank’s Deputy CEO says

Greek banks will manage e-auctions in the most correct and socially equitable way, and with extreme sensitivity, Eurobank’s Deputy CEO Theodoros Kalantonis said on Tuesday.

Addressing a conference organised by Hellenic Management Association, Kalantonis said: “We are in a position as banks to focus on the ones to be led to e-auctions, a big and systematic preparation has been made,” pointing to strategic defaulters, those who have sufficient income to repay their loans but deliberately refuse to do so.

He said that in 2009, there were a total of 52,000 real estate auctions, along with 7,000 auctions of mobile assets. In 2016, property auctions totaled 5,650 (along with 800 auctions of mobile assets), or 90 pct less. Lack of enforced debt collection measures at the start of the crisis offered an opportunity for strategic defaulters to rise, Kalantonis said. He added that the necessary legal and institutional framework needed to deal with the problem of non-performing loans was now in place.