ECONOMY

Piraeus raises credit target for 2019

piraeus-raises-credit-target-for-2019

Piraeus Bank will exceed its 4-billion-euro target in terms of financing corporations and individuals this year, reaching up to 4.5 billion instead, the lender’s chief executive officer Christos Megalou said this week during a speech in Alexandroupoli, northern Greece.

He added that the bank expects its credit expansion to take new loans in 2020 above 5 billion euros and that the ratio of loans to deposits currently stands at 85 percent, allowing the bank to support the market and new investments.