The out-of-court debt settlement mechanism continued at a strong pace in February 2026, with 2,055 debt restructuring agreements finalized during the month. Of these, 605 were concluded under Law 5193/2025 — the recently updated framework that expands vulnerability criteria for creditors’ mandatory restructuring proposals. These legislative enhancements have significantly broadened debtor protection, making it easier for more individuals and households to resolve their debts.
New Applications Surge
February also saw a high volume of new applications, totaling 6,380 — reflecting sustained public confidence in the process. Since the mechanism’s launch, 55,343 settlements have been completed overall, covering original debt amounts totaling €17.07 billion. The approval rate stands at 78%.
Support for Vulnerable Groups
Participation by economically vulnerable households remains especially encouraging. In February alone, 285 restructuring agreements were finalized for such debtors — including 29 involving persons with disabilities (PwD). Since the mechanism’s inception, 471 debtors have successfully secured suspensions of enforcement measures, safeguarding both their primary residence and personal assets.
Bilateral Agreements with Financial Servicers
Bilateral loan restructurings with the four largest financial servicers — Intrum, Cepal, DoValue, and Qquant — continue to show robust activity. In January 2026, such agreements totaled €309 million across 4,705 debtors.
NPLs at Systemic Banks
According to year-end 2025 data from Greece’s four systemic banks, nearly half of their non-performing loans (NPLs) are formally declared as defaulted. On average, around 15% of NPLs are currently under active restructuring arrangements.