The Greek Deal.com
LOANS
The value of loans managed by servicers increased by €1 billion in Q3 2024
The nominal value of domestic private sector loans managed by domestic loan and credit management companies and transferred to specialized financial institutions abroad increased by €1.012 billion in the third quarter of 2024, according to data released by the Bank of Greece.
€9.1 billion in settled initial debts
In November 2024, the number of successful settlements under the out-of-court debt settlement mechanism reached a historic high.
The gap between deposit and loan rates is closing
In October 2024, the weighted average interest rate on new deposits remained almost unchanged at 0.53%, while the corresponding interest rate on new loans fell to 5.41%.
52.48% increase in debt arrangements in October
In October 2024, both new applications and successful settlements under the out-of-court debt settlement mechanism recorded a significant increase compared to October 2023.
Demand for mortgage loans decreased in the third quarter
In Q3 2024, the lending criteria for non-financial corporations (NFCs) remained unchanged compared to Q2 2024, in line with the expectations expressed in the previous quarter's survey as the Bank of Greece announced today.
The Greek State proceeds with the early repayment of €8 billion loans
The Greek government will repay loans from the Support Mechanism totaling around €8 billion in December.
Deposit and loan rates almost unchanged in August
The weighted average interest rates on new deposits and loans remained almost unchanged in August 2024, at 0.54% and 5.84%, respectively, according to Bank of Greece data.
Greece has the highest rate of NPL's
According to the results of a recent Octane study on the Greek NPLs market, Greece still has the highest NPL rate in the European Union, at 3.3% compared to an average of 1.9% by Q2 2023.
€69.77 billion of loans managed by servicers
The nominal value of domestic private sector loans managed by servicers and transferred to specialized financial institutions abroad decreased by €277 million in the second quarter of 2024.
Criteria and loan conditions remain stable in the second quarter
While the general requirements for granting business loans were somewhat loosened in Q2 2024, the standards for lending to non-financial corporations (NFCs) stayed the same.
Decline in household deposits, increase for businesses
In May, net financing to the private sector was €66 million, while net financing to businesses was positive by €105 million.