Red loans: banks transferred "debtors" fund managers

The total amount of “red loans” (non-repayable by bad debtors) transferred to loan management (settlement) companies in the second quarter of the year amounted to just under 90 billion euros, which means a slight decrease of 695 million euros compared to the previous quarter of this year.

According to data released by the Bank of Greece, the nominal value of business debt transferred to collection funds amounted to 32.366 billion euros at the end of the second quarter of 2022, compared with 32.811 billion euros at the end of the previous quarter.

The nominal value of loans to non-financial corporations (NFCs) decreased by €424 million to €32.284 billion at the end of the second quarter of 2022.

The amount of 16.576 billion euros falls on “red loans” to small and medium-sized enterprises.

The nominal value of loans transferred to other financial institutions decreased by 22 million euros (to 82 million euros at the end of the second quarter of 2022).

The nominal value of loans managed by self-employed professionals, farmers and self-employed entrepreneurs decreased by 151 million euros compared to the previous quarter and amounted to 12.080 billion euros at the end of the second quarter of 2022.

The nominal value of outstanding bank-to-fund loans from individuals and private non-profit organizations decreased by €99 million quarter-on-quarter to €42.520 billion at the end of the second quarter of 2022.

In more detail, consumer loans, after transferring them to funds, showed a decrease of 40 million euros and amounted to 18.217 billion euros. Mortgage loans showed a decrease of 53 million euros, amounting to 24.117 billion euros.



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