Credit expansion for Greek shipping
Last year’s financing by Greek banks for shipping increased by 12.25%, expanding their share in the sector compared to international banks, which reduced their positions.
This is according to a study by Petrofin Research for 2023, regarding the financing of Greek shipping, from which it follows that international banks without a Greek presence showed a decrease in financing by 9.59%, while international lenders with a Greek presence decreased by 2.23%. Greek banks, as noted in the study, registered a growth of 12.25%, recording a further expansion from last year’s growth rate of 3.7%, continuing the upward trend recorded continuously since 2017.
Based on the ranking, Eurobank showed an increase of 16% to register in 2023 the largest shipping portfolio among Greek banks, occupying the second place overall with loans of 4 billion euros, right after UBS (Credit Suisse), which came in first place with loans of €5.1 billion and a reduction of financing by 7.2%.
Third place was taken by Piraeus Bank with an increase in financing by 12.6% to €3.7 billion, while Alpha Bank ranked right after Piraeus with loans of €3.69 billion (an increase of 4.5%), followed by National Bank with €3.3 billion and an increase of 19.5%. The entry of Pancreta into the financing of Greek shipping was noteworthy, according to Petrofin, with a portfolio of €74 million.
Overall, bank financing for Greek shipping decreased in 2023 by 2%, and total loans disbursed or committed both in Greece and worldwide at the end of the previous year stood at $50.9 billion, compared to $51.9 billion in 2022.
