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Eurobank is the first in small business financing

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Eurobank is the first in small business financing

The Eurobank is a leader in small business and retail finance with a total sound balance sheet of over €11.5 billion, a position it maintains in 2022, ranking first in terms of new disbursement market share. The bank has a portfolio of 45,000 financed small businesses with a turnover of up to 2.5 million euros, and a total outstanding balance of sector loans of 2.3 billion euros. In 2022 alone, the Eurobank approved loans to approximately 7,800 companies totaling EUR 500 million, which have either already been paid or are in the process of being issued. Its market share, according to the bank, is 33%.

The market share of the bank in this category of lending reaches 33%.

In 2022, the banking system is estimated to have approved a total of about 35,000 small business loans worth more than 2 billion euros. Financing is mainly directed to sectors such as tourism, wholesale trade, development and investment projects. improve infrastructure and energy modernization. The Eurobank estimates that today there are more than 130,000 small businesses that are financed by banks and have current balance sheets of more than 7 billion euros. The bank notes that small business funding, even at the peak of the lending expansion in 2008, never exceeded 230,000 out of about 850,000 businesses. As can be seen from historical data not only in Greece but also abroad, the general trend is that many small businesses are either self-financed or financed by their suppliers.

The Bank recognizes the importance of small business to the economy and employment and has over 400 specialist small business loan advisors in its branches in Greece. With the aim of spreading development in society, in addition to funding, it supports small businesses to make the most of the big funding opportunities arising from the use of European and Greek programs EU Invest, Pan European, EBT, etc. It creates funding instruments, and also a strategic partnership specifically targeted at the small business sector, while further developing important partnerships with large companies and agencies to provide better services, products and advice to its customers. These include the Business Banking program or the Digital Academy for Business digital business transition initiative.

Author: newsroom

Source: Kathimerini

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