The first meeting with the Servicers for private debt management was yesterday (29.5.2025) by the Minister of National Economy and Finance, Kyriakos Pierrakakis. At the meeting held at the Ministry of National Economy and Finance (Hypocritical), attended by CEOs of the big loan management companies, its sub -commander BCTChristina Papakonstantinou and the General Manager of the BoG, Yiannis Tsikripis.
The three sides discussed the progress made in debt arrangements, with the RP and the BoG demanding even more, long -term and sustainable arrangements for the resolution of “red” debtors, using the upgraded out -of -court tool. The course of debt recovery has also been discussed, as it is important to ensure that the state guarantees that accompany the securitization of “Hercules” will not be affected.
It is noted that with December 2024 data, the total stock of non -performing loans included in the Hercules program amounts to EUR 40.7 billion (from 42.8 billion in December 2023), while the amount of the Greek government is now € 15.7 billion.
The meeting took place at a time when very high on the agenda of the government’s financial staff lies the consolidation of the economy from red loans and addressing the housing issue. In both of these issues, the role of the servicers is crucial, as they have passed the management of the non -performing openings of banks, red loans sold to funds, as well as securitizations that have been transferred to “Hercules”, and together with the real estate accompanied as collateral.
At the end of 2024, the services managed openings of EUR 87.4 billion, of which € 71.6 billion (82% of opening management) correspond to loans purchased from investors and the remaining 18% or 15.8 billion euros in loans on behalf of banks.
Servicers have submitted specific proposals to the RPH, under the term of office, Kostis Hatzidakis, on how real estate transfers could accelerate to the market. These proposals have also been studied by the current leadership of the Ministry of Education, according to information positively and is expected to make specific interventions soon.