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Friday, June 25, 2021

Hellenic Bank: Repayment of installments for 95% of loans

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Extremely encouraging are the figures announced by the Hellenic Bank regarding loan repayments. In particular, in the context of the presentation of its financial results for the first quarter of 2021, Hellenic Bank announced that the percentage of the Bank's loans that are repaid normally, after the lifting of the moratorium amounted to 95% on May 24.

The above data confirm that the Bank effectively managed the pandemic, focusing its attention on the portfolio of € 2.8 billion that was under the moratorium on installments in 2020. With its manipulations, the Hellenic Bank managed to minimize the risk of delays and increase percentage of non-performing loans (NPLs).

READ ALSO: Profits of € 12.9 million announced by Hellenic Bank

It is worth noting that the total delays around the end of May are lower compared to the levels of delays before the start of the pandemic.

Given that the Bank recorded a record number of new loans last year, its financial results are of particular importance, certifying the Bank's resilience and flexibility and reaffirming its ability to support its customers whenever needed.

Recognizing the challenges posed by the pandemic, which affected the entire spectrum of the economy, the Bank took a series of measures to support its borrowers, offering them support and restructuring options. At the same time, he made sure to stay in close contact with them all this time ensuring that they will start repaying their loans at the right time. It should be noted here that only 2.8% of the moratorium loan portfolio has had to be restructured so far.

Encouraging are also the messages from the critical hotel sector in which the Bank has a report of € 449 million serviced Loans, most of which participated in the first moratorium. Specifically, about 42% of them had an installment that had to be repaid by the reporting date, of which 96% have repaid as expected. The remaining customers have seasonal repayments.

To the optimism is added the positive pace in the vaccination program, the bookings that range to the planned levels and the budget support package in the sector.

The effectiveness of the measures taken by the Bank is reflected in the financial statements for the first quarter of 2021, with the announcement of profits by the Bank of € 12.9 million after tax. At the same time, it recorded a decrease in the probability of risk in its balance sheet, with the MEX index in the total gross loans being 15.8%.

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Source: www.philenews.com

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