Value of loans to individuals restructured by banks, CSFs at 12.3 bln euros

Toy forklift hold color letter block L to complete word NPL (abbreviation of Non Performing Loan, Non-Patent Literature) on wood background

 

From July 2019 to the end of May 2020 (ie 31.05.2020),  252,529 loans to individuals have been restructured by banks and credit servicing firms (CSFs) totaling 12.33 billion euros as outlined in the 3rd Progress Report on the development of private debt released by Ministry of Finance. 

* Banks restructured 200,638 loans (housing, consumer, very small, small and medium-sized enterprise loans) amounting to 10.2 billion euros.

* Among CSFs, 51,891 loans (housing, consumer, small and medium and large enterprises) amounting to 2.15 billion euros were successfully settled.

Ιn more detail:

A. From Banks in May 2020 (ie from 1.5.2020 to 31.5.2020):

10,148 loans were restructured, amounting to 601.8 million euros.

Out of these loans:

-4,188 (41.27 percent) were mortgages, amounting to 288.88 million euros.

-5,018 (49.45 percent) were consumer loans, amounting to 64.91 million euros.

– 932 loans (9.18 percent)  were for very small and small-medium-sized enterprises, amounting to 214.32 million euros.

– 10 (0.10 percent) were for medium and large enterprises, amounting to 33.79 million euros.

From CFSs in May 2020 (ie from 1.52020 to 31.5.2020):

-3,217 loans were successfully restructured, totaling 88.1 million euros. A total of about 8 of these 10 loans were written off (ie 82.15 percent of borrowers received a debt haircut).

Out of these loans:

-3,211 concerned housing, consumer and small business loans (ie loans to sole proprietors – self employed), totalling 82 million euros.

-6 concerned loans to medium and large sized enterprises, totalling 6.2 million euros.

Overall debt restructured from banks and CSFs

In regards to the operation of the Electronic Platform for the Protection of Main Residencies, via which mortgage-backed housing, consumer and business loans can be favorably renegotiated or subsidized, it appears that from 01.07.2019 (the date the platform was launched) until 16.06.2020

-4,956 applications have been submitted by borrowers and forwarded to banks and the loan managers. Out of them only half, ie 2,317, have been provided with restructuring proposals by banks of CSFs, and the rest are outstanding, with a one-month deadline, from when the applications were made.

A total of 67.6 million euros in loan claims have been settled that have a mortgage or prenotation of mortgage on the main residency.

-Total debts amounting to 11.9 million euros have been written off.

-State subsidies, covering repayment installments of the loans restructured, amounting to 25.6 million euros were approved.

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