By Chrysostomos Tsoufis
New bell for him risk of non-performing loans hit the Bank of Greecethis time through Deputy Commander Christina Papakonstantinou.
“Now we will see the real impact of inflation on increasing the operating costs of businesses, reducing the disposable income of households and therefore on the quality of banks’ loan portfolios,” said Papakonstantinou. A statement made just 24 hours after review by the Inflation Commission for this year in Greece at 6.3% against 3.1% of the initial estimate.
In addition to the Russian-Ukrainian war that sends inflation to new heights, the risk index also increases the phasing out of pandemic protection support measures.
For example, businesses should start at the end of June repayment of refundable advances. 7 out of 10 red loans are business and according to the report of the BoG Governor the highest percentages are recorded in catering with 31.5%, construction with 21%, health with 20% of trade with 18% and accommodation with 15% .
Except from loan arrangementsin which banks and funds proceed, and according to the Minister of Finance, Christos Staikoura, in the last three years they exceed 630,000, in the reduction of non-performing loans in the case of mortgages will also contribute extrajudicial mechanism which until now remains unfinished, as the Real Estate Acquisition and Leasing body has not yet been activated.
In her statements, the new special secretary for private debt management Marialena Athanasopoulou He said that next week there will be a call for interest to investors for the body that will operate on a purely private basis. The interest is strong according to information with more than 10 interested parties.
The Real Estate Acquisition and Leasehold will have the obligation to acquire the principal residence of a vulnerable debtor, which meets specific criteria. He will rent the residence to the debtor and transfer it back to the debtor after 12 years if the debtor has paid 12 years rent plus the repurchase amount.
The institution is expected to be fully operational by the end of the year.
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