OTOE: Seven questions – answers for the closure of bank branches

“A new information campaign on the issue of reducing the number of branches and staff in banks” begins Federation of Banking Employees of Greece (OTOE)continuing initiatives and systematic interventions.

According to decisions of the Executive Secretariat and the General Council of the Federation, which met today, OTOE sends a detailed documented information note with its positions on network shrinkage and digital banking blockade.

The relevant informative text with seven questions and seven answers sent to co-responsible ministriesτα political partiesthe Bank of Greecethe Hellenic Banking Associationthe ΚΕΔΕthe other bodies of the local self-government and the Chambers.

As mentioned in a relevant announcement, this text analyzes the positions of OTOE and justifies the reaction of the Federation to the continuous shrinkage of the network.

Specifically, OTOE points out in its announcement the following:

• To the questionbecause the federation opposes a pan-European one tendency to reduce staff and closing of the store, brought by digitization and new technologies, OTOE answers that the excessive shrinkage in our country is not due so much to technological progress, but mainly to extreme shrinkage options of the domestic banking system, with the main goal of cutting costs and not better customer service.
• To the questionin what is differentiated the practice of banks in Greece In relation to corresponding trends in the eurozone, OTOE responds that the reduction in the number of stores, ATMs and staff in Greece, in relation to the eurozone, is much greater in our country. Specific tables with detailed data are also provided.
• In the claim of banks that there is a drastic change in palternative customer habitswith a complete shift to digital-alternative trading networks, OTOE responds with data and relevant tables, which prove that the use of digital media in Greece is at extremely low levels compared to the average of European Union countries, which leads a large portion of the population in banking foreclosure.

«OTOE’s position is that the chain stores and their staff are the irreplaceable person and the link of trust of each bank with the customer in the neighborhoods and in the local communities.“, Is pointed out in the relevant informative text of OTOE,”because banks do not sell any product. They sell primarily faith, trust. These are not built or maintained without the proper service of each customer and with the necessary interpersonal contact».

• To the questionif the GDP of our country justifies the differences in the indices with the countries of the eurozone, OTOE answers: When the European Central Bank publishes the corresponding comparative data, does not weight them with GDP. After all, the goal of banks should not be to make super profits, but also to meet the needs of the customer, the economy and society.
• About the consequences of the banking blockade for households, businesses, local communities, the Greek countryside, OTOE responds that it has caused serious problems and burdens to retirees, farmers, small and medium-sized businesses and professionals, who are unable to use alternative online trading channels. Especially at the level of local communities, the withdrawal of banks from them is associated with isolation, degradation and ultimately with economic decline.
• To the questionwhy should digital exclusion concern the State, OTOE answers:

Taking into account that on the one hand the banks spent public money (recapitalizations) for their reorganization and consolidation, with serious consequent loss of the HFSF and the State, while they continue to use public guarantees for their exemption from red loans and on the other hand services are, based on the successive regulations, which the State has proceeded, basic and necessary public goods, we believe that the auditing institutions, the competent independent Authorities and – of course – the respective government can not remain indifferent to the practices of active , adopted by the industry, both in terms of chain stores and in terms of employment.

«The good European banking practices of timely consultation of the management of each bank with OTOE and the respective associations, with the local bodies, should be utilized, in order to ensure a suitable alternative placement for the employees, as well as alternative ways of access for the customer, at a reasonable distance.».

For example, o financial industry in England concluded that there should be valid information and consultation (at least four months in advance) with employees, agencies and local communities, on bank closure plans, impact assessment for employees and customers (households, businesses, farmers, professionals, retirees, visitors to tourist areas), as well as alternatives for employment and service for each of these categories.

• In the claim of banks that surplus staffOTOE answers: «Not only is there no surplus, but there is a shortage of staff. Titles must end for the closure of chain stores and the continuous reduction of employment in banks“, Notes OTOE.