A jump on loan arrangements – What Servicers set, historical high for the Extrajudicial

Debt arrangements of EUR 238,6 million for 7,251 debtors, with a clear lead in housing made in January by management companies. These are bilateral arrangements with debtors, loan arrangements included in the Katseli Act and loan arrangements under Law 4605/19 to protect the first residence, with the possibility of subsidizing the monthly installment. According to data from the Ministry of National Economy and Finance, management companies made bilateral arrangements of 159,8m euros to 5,178 borrowers, 72,2m euros arrangements to 1,924 debtors of the Katseli Act (v. 3869/2010) and 6.6m euros arrangements to 149 debtors of the law 4605/19 (a successor law of n. Katseli to protect the first residence). Bilaterally, the management companies regulated housing loans of EUR 61.7 million, micro-enterprise business loans of EUR 43,9 million, consumer loans of EUR 41.9 million, large business loans of EUR 8,6 million and small and medium-sized business loans of EUR 3.5 million. L. Katseli’s loan arrangements amount to 39.4m euros for housing loans, 27.5m euros for consumer loans and around 6m euros for micro-enterprise loans. In the regulations of Law 4605/19, an amount of EUR 4.8 million relates to housing loans, EUR 1 million loans to micro-enterprises and EUR 784,000 consumer loans. It is noted that yesterday the Ministry of National Economy and Finance announced and more than doubled applications for debt regulation through the electronic platform of the extrajudicial mechanism, in February. The electronic platform submitted 7,360 new applications for an average of 3,400 new applications per month in 2023, which is a record and historical high. Similarly there was a historical high in new arrangements, since, according to the data of the General Secretariat for Financial Sector and Private Debt Management in February 2024, 1,222 new successful debt arrangements were carried out. Thus overall, 14,322 successful debt arrangements corresponding to EUR 5,17 billion of initial debts have been made through the extrajudicial compromise.