Smaller loan installments for hardest hit

As of January, Greek banks will implement reduced installment programs for well-serviced loans of those affected by the pandemic - businesses and households - that had been frozen since last April. 

The announcement came on Tuesday as the nine-month banking "moratoriums" gradually begin to expire at the end of December.

In a bid to mitigate the serious side effects on economic activity resulting from the pandemic and to prevent these loans from turning into nonperforming ones (NPLs), banks plan to restore installments to pre-crisis levels over a period of one or two years. 

Kathimerini understands that the National Bank of Greece (NBG) will offer a program, which provides for a reduced instalment of 50% for the whole of 2021.

Alpha Bank is aiming to reduce installments, depending on the capabilities of the debtor in question, for a period of two years. <...