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Next Previous AstroBank Corporate Banking: Customer structure and personalized products HOME • INSIDER • BRAND VOICE • AstroBank Corporate Banking: Customer structure and …
Focus on competitiveness and productivity for a rapid return to growth
In the last two years, the Covid-19 pandemic has caused uncertainty and instability around the world, forcing states to implement emergency fiscal measures to support their economies.
However, Even before the effects of Covid were addressed, the crisis in Ukraine erupted and inflation rose sharply, exacerbating the situation and creating new challenges for societies and economies.
Banks that have already played a key role in maintaining the smooth running of their economies are once again called upon to provide stability amid a fluid landscape created by the war and the consequent sanctions imposed on Russia by the US and the EU. p>
For the past two years, while the Cypriot economy has been plagued by the effects of the pandemic, AstroBank has worked tirelessly to help businesses stay viable and financially supported business investment plans in all sectors of the economy. In cooperation with the state but also mainly with own funds, the bank supported entrepreneurship and the effort to recover the economy. The Bank intends to continue to support sustainable businesses to meet all new challenges.
From left to right : • Andreas Falas – Director of Business Operations • • b > Panagiotis Apseros – Director of Business Finance Analysis Department • Vassilis Hadjichristou – Deputy Head of Large and Small and Medium Enterprises • Nikos Liasidis – Director of Small and Medium Enterprises Unit • Evi Antoniadou Rossidou – Head of Large and Small and Medium Enterprises and Shipping Department • Kyriakou Kyriakos – Director of Nicosia Large Business Center • Stella Leantzi – Director of Large Business Center Paphos • Andreas Konstantas – Director of Larnaca/Famagusta Large Business Center.
Customer-centered organizational structure
Whether they are large organizations or small and medium-sized enterprises, AstroBank Corporate Division is well aware of the environment and is close to customers in order to offer products and services to each business based on their individual needs. Recognizing the contribution of businesses to a healthy economy, AstroBank & nbsp; has adopted a customer-centric organizational structure, with each business being served by a Corporate Relationship Manager who is responsible for the resulting corporate needs.
The Bank has developed a network of three Corporate Banking Units in Nicosia, Limassol/Paphos, and Larnaca/Famagusta and a separate SME Unit, for small and medium-sized enterprises, with headquarters in Limassol and branches in all cities. It also maintains a Shipping Department to better serve companies operating in this important sector of the economy.
In addition, for better and faster customer service, two separate departments have been created internally: Corporate Financial Analysis, which analyzes and processes customer loan applications, and Corporate Operations, which deals with their operational and procedural requests./p>
In 2021, the Bank granted a significant number of loans, focusing mainly on areas that enhance the competitiveness and productivity of the economy such as health, green energy, agriculture and livestock, dairy, retail and wholesale, education, and the tourism industry, contributing greatly to the effort for a rapid return to economic growth.
Specifically, the new business loans granted in 2021 by AstroBank, based on CBC data, correspond to 10% of the total business loans of all Banks in Cyprus, which is much larger than AstroBank's market share. It is no coincidence that 77% of the Bank's loan portfolio concerns companies.
Evi Rossidou Antoniadou, Head of Large and Small Enterprises and Shipping Division of AstroBank and a member of the Board of Directors, stated that “the Ukrainian has come to add to the challenges created by the pandemic, but at AstroBank we are determined to on the side of Cypriot companies, providing them with options for financing their investment projects and providing working capital.
With strong capital adequacy and excess liquidity, our Bank will continue to support businesses and recovery. ”
Complete and flexible solutions and options
AstroBank offers solutions and options tailored to each customer that includes the full range of products and services according to their needs, such as transaction banking, credit, guarantee and cash management as well as life insurance services & amp; general sector.
It also offers solutions for the personal needs of staff and business executives, including mortgages. It is the only bank that provides mortgage overdraft, an original solution that combines the features of its mortgages with the benefits of a current account with a limit. There is also a staff pay plan that sets a limit of four times your monthly salary (up to € 15,000), combined with many other benefits.
In addition, clients looking for alternatives to their deposits can leverage the Investment Strategy team through well-trained private bankers who monitor the portfolio and guide their choices.
Recovery and Resilience Fund < Cyprus has secured € 1.2 billion for the implementation of the recovery and resilience plan until 2026, which includes approximately € 490 million for green investments.
The Bank monitors all government subsidy schemes under the Recovery and Sustainability Fund in order to be able to create new funding packages that will complement the subsidies related to Energy Upgrading and Digital Transformation.
Favorable conditions for green transition
As a leading bank in the field of financing green energy projects and sustainable development, AstroBank has already financed, through a specialized group set up, a significant number of photovoltaic systems. and wind farms, a total of 24 parks with a capacity of 58.2 MWh.
In addition, loans have been approved and are in the process of implementation for another 14 photovoltaic parks with a total capacity of 18.8 MWh, while the bank is in advanced discussions for the financing of another 12 photovoltaic parks with a total capacity of 32.2MWh. The same group has also created and introduced to the Cypriot market financing packages related to the promotion and development of Renewable Energy Sources.
“In terms of financing projects and companies for green investments, AstroBank has the necessary staffing and expertise to support them with fast procedures, favorable terms and providing the assurance that it will remain their partner for their next step,” said Ms. Rossidou.
The Bank will continue to contribute to sustainable development by offering innovative products and services with more competitive interest rates, related to energy upgrades of buildings, offices, and facilities, in the context of green and social business financing with quality options and solutions, adopting ESG criteria ( environment, social cohesion, governance).
Ms. Rossidou stressed that “AstroBank will continue to support its customers as a strategic partner in the effort to deal with the ongoing crisis. The Bank supported the companies together with the state during the pandemic and aims to claim an important and responsible role in the great work of the green transition of our country “.
CONTACT DETAILS
Head Offices: 1 SpyrouKyprianou Ave., 1065 Nicosia
Phones: 22-575605, 22-575819
Email: [email protected]
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