Bank of Greece

Servicers to see sector grow further

The secondary loan market is expected to grow in 2021 and rise far above the 100-billion-euro level, while the new securitizations already announced are set to top €20 billion, the Association of Loan and Credit Claims Management Companies (EEDADP) stated on Thursday, on the occasion of its second birthday.

Property market in freefall due to Covid

The property market views 2020 as a lost year, as it has backtracked significantly on its course to recovery recorded over the previous couple of years. The pandemic has resulted in the dwindling of the market's main growth driver - i.e. buying interest from abroad - and this is clearly reflected in the figures of the Bank of Greece.

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.