Greek banks focusing on promotion of cross-sales with bancassurance products

Greek systemic banks are focusing on further promoting cross-sales throughout the range of bankassurance products, bank executives said.

“There is great room for development of sales particularly in insurance products promoted via banks, that lag significantly in penetrating the general population compared with other EU member-states,” a top executive said, adding that emphasis is also given to restarting housing credit.

Investment, deposit, saving, housing and consumer loans, solutions for small- and medium-sized enterprises and professionals are at the epicentre of banks’ efforts to raise their sales, executives said, adding that for the first time after a long period, banks are seeing their clients’ interest ending in sales.

Bank executives noted that the general course of the economy and its outlook play a fundamental role in establishing this increase in demand. A return of banks to normality is directly linked with the country’s growth prospects and particularly a further significant loosening of capital controls before their final abolition.

A recent series of meetings held by the presidency of Hellenic Bank Association in Brussels last week with Commissioners and EU officials confirmed positive developments in the Greek economy but also noted that significant problems and challenges still remained to allowing the country to return to strong and sustainable growth rates and to fully regain market confidence.

Source ANA-MPA
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