15 January 2021EditorsComments Off on Stournaras, Greek banks will face a higher burden from Covid related defaults.
The burden from new Covid-19 related defaults will be higher for banks that already had a high stock of NPLs such as Greek banks, where a big chunk (if not all) of the existing buffers was meant to be used to address part of their legacy NPLs .
The second wave of the pandemic crisis makes the need for “Hercules 2” imperative and has already begun to be assessed along with the new red loans and the cost of loan deferrals, amounting to 30 billion euros, provided by the banking system to support households and businesses.
In the last year, loan management companies-members of the association have made more than 75,000 loan restructuring arrangements, amounting to over 2 billion euros in portfolios that have been transferred.
The fund will be able to implement the plan it has prepared for the development of significant activity in the logistics sector. The plan envisages the construction and operation of modern logistics facilities from the acquisition of the area in Aspropyrgos.