The Central Union of Chambers (KEE) has said that abusive bank practices have a serious socio-economic impact, mainly through their impact on small- and medium-sized enterprises (SMEs).
Members of a special committee reporting on abusive bank practices claimed that, since the introduction last year of the interbank electronic credit rating system Teiresias, an estimated 25 businessmen have committed suicide as a result of being excluded from credit facilities. The new system is seen as imposing strict lending criteria due to limited data.
Nikos Lakiotis, chairman of the committee, said abusive and other, often illegal, practices, affect the competitiveness of SMEs. “If statistical data is correct, about 75 per cent of dismissals by about 240,000 SMEs since 1996 have affected employees of bank-stricken SMEs,” he said.
