K. Makedos: "Building the future with credibility and extroversion"
"Building the future with credibility and extroversion", the Chairman of TMEDE, Mr. Konstantinos Makedos said, during the presentation of the Second Annual Report of the Fund, held at its Conference Hall, in the presence of the Deputy Minister of Labour, Social Security and Social Solidarity, Mr Tasos Petropoulos, the representative of New Democracy, the Shadow Deputy Minister of Labour, Social Security and Social Solidarity ND, Mr. Notis Mitarakis, the Secretary General of the European Association of Guarantee Institutions (AECM), Mrs Katrin Sturm, and representatives of the Engineering and Banking Industries. In a greeting video recording, the President of AECM, Mr. Bernhard Sagmeister, congratulated TMEDE for the high quality of digital services it provides, announcing that “2019 will be the digitization year for AECM”.
President of TMEDE, Mr. Konstantinos Makedos
More specifically, according to Mr. Makedos, "TMEDE during the previous year, continued enhancing its guarantee services, recording a 4.4% capital increase compared to 2017, and issuing digitally its letters of guarantee, at a rate exceeding 65%”.
The performance guarantees increased by 15.9% compared to 2017. According to the President of the Fund, TMEDE, in compliance with its statutory provisions and applying the International Financial Reporting Standards, has obtained a profit, based on the audit report by certified public accountants, issued with no reservation.
In 2018, after its successful evaluation, the Fund became a full member of the European Association of Guarantee Institutions (AECM). According to Mr. Makedos, "the prospects for the borrowers are great."
As regards the Fund’s assets, the President of TMEDE highlighted, that last year two new ministerial decisions were issued, transferring substantial assets to the Fund, while in 2019, the State will proceed with full transfer of the Fund’s assets, in accordance with its approved economic viability study.
"We have assumed the responsibility not only to protect these assets as "the apple of our eye", but also to capitalise them, in order to constitute the basis of prosperity and progress for our Industry and the country," Mr. Makedos said.
As he pointed out, "the extension of Fund’s participation in ATTICA BANK, as one of its core shareholders, places TMEDE in a new status of high regulatory requirements and commitments, in order to respond to its supervisory and distinctive role as shareholder towards its investment. The fulfilment of these commitments, as clearly arises from the recent positive decision of the European Central Bank, after a recommendation of the Bank of Greece and SSM, significantly upgrades the rules of corporate governance of the Fund. Our goal is to effectively defend a strategically long-term investment of our industry and rigorously support and promote - within the framework of our institutional role as a shareholder - the reorganization of the Bank, to generate profits and fulfil its development role, supporting small and medium-sized enterprises, “the backbone of the Greek economy ".
In addition, in 2018 TMEDE’s activities “for management of co-funded projects” were certified, while a pilot application was introduced for the development of personalised digital services and information to its members, covering all their needs, such as issuance, return of letters of guara