In the first half of the year, loan management companies made loan settlements totaling €3 billion, of which over €2 billion came from non-bank portfolios.

2.7 billion relates to bilateral arrangements and arrangements under Law 3869 ("Katseli Law"). Bilateral arrangements are the most effective procedure for settling debts, and in total, for the first half of 2024, they amounted to €2 billion. Of this, €1.4 billion relates to non-bank portfolios, a category in which three out of four arrangements include debt write-offs that averaged 48%. 

At the same time, the tool of the Extra-Judicial Mechanism is also operating, through which debts of around €330 million were settled in the first half of the year, the majority of which stemmed from mortgage and consumer loans. More than 6 out of 10 settlements through the Extra-Judicial Mechanism include debt write-offs at an average rate of 44%. 

At the same time, as noted in the announcement, the member companies of the EDRM continue to focus on improving the level of service they offer to their clients. In the first half of 2024, member companies' call centres received an average of over 95,000 calls each month and further increased their service ratio (calls answered in a timely manner) to 90%. They received more than 28,000 requests per month on average, drastically reducing the average response time to 10 days. Requests were for debt adjustment, providing an authorization or power of attorney, providing a dossier, issuing a certificate of payment or payment or debts, providing a copy of a contract, etc. 

In the same direction, each of the member companies of the Association developed the specific online platform for informing borrowers about the portfolios managed by them. The respective platforms have been operational since 1 April 2024 and give borrowers the possibility to directly access a multitude of information on their debts in a direct, transparent and real-time manner.