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BoG: Loans of €23.5 bn are controlled by servicers

In the fourth quarter of 2019, the nominal value of loans sold by banks to investors and managed by local servicers increased.

Specifically, according to Bank of Greece data, the total value of loans managed by servicers increased by  €3.432 bn and  reached €23.537 bn, compared to  €20.105 bn in the third quarter of 2019.

The nominal value of the business loans under servicing amounted to  €6,400 m at the end of Q4 2019, from  €5,408 m at the end of the previous quarter.

The nominal value of loans to insurance companies and other financial institutions remained virtually unchanged at  €48 m at the end of 2019.

The nominal value of under servicing loans to freelancers, farmers and individual enterprises increased by €1,017 m compared to the previous quarter and amounted to €3,273 m at the end of Q4 2019.

Lastly, the nominal value of under serviving loans to private and non-profit institutions increased by €1,422 m in the first quarter of 2019 to €13,863 m. In particular, the consumer loans increased by €1,434 m to €11,539 m. Mortgages decreased by €12 m to €2,317 m.

Original Source: Euro2day

Adaptation/Translation: Kiki Athanasiadis

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