Repayment of loans put off for firms

Repayment of loans put off for firms

The Hellenic Bank Association on Tuesday offered companies hurt by the spread of the coronavirus a six-month suspension of their corporate loan repayments, with an emphasis on the sectors of tourism, transport, food service and retail commerce.

The targeted measure, decided centrally with guidance from the Bank of Greece, concerns only corporations directly damaged by the outbreak and provides for the payment only of the interest due until September 30, with a six-month extension on the repayment period. It does not concern individuals or personal enterprises for the time being.

Banks have not ruled out the gradual examination of other measures too, provided the new economic crisis deepens and consequences expand to households as well.

There is also the possibility of an extension to the operation of the platform for the protection of borrowers’ main residence; although this has not yet been discussed with the country’s creditors, it is one of the immediate measures to be introduced for individuals.

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