Piraeus, Intrum eye close cooperation

The agreement between Piraeus Bank and Swedish group Intrum is one of the biggest foreign investments and the biggest Swedish investment in Greece (410 million euros). With a portfolio of 27 billion euros, Intrum Hellas is the first independent credit management company of this scale in the country and aspires to change the domestic nonperforming loans market by providing solutions to benefit both individuals and businesses, ultimately benefiting the economy, as the heads of the two groups point out.

Speaking to Kathimerini, Christos Megalou, Piraeus' chief executive officer, and Mikael Ericson, Intrum's chairman and CEO, expressed satisfaction at the partnership - which was concluded in record time, given its scale. They also anticipate multiple benefits, both for Piraeus - which will improve its capital adequacy ratios and enhance efficiency in the management of NPLs - and...

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