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The Greek banks have recently unveiled new measures to combat the impact of COVID-19 as listed below:

NATIONAL BANK of GREECE (NBG) measures:

  • For medium and large sized companies, a deferral of the principal instalments due between March 1st 2020 and December 31st 2020 with an increase on the following instalments or deferral of such instalments until the end of the loan period or of the loan maturity. NBG has renewed all credit lines expiring within the first semester of 2020 until the end of June 2020.
  • For small and medium sized companies, a deferral of all principal instalments due between March 1st 2020 and December 31st 2020 with a deferral of the loan maturity upon request. Renewal of all credit lines expiring until the end of May 2020 and for three months following their expiration for all small and medium sized companies, including the self-employed.
  • For the self-employed who are facing reductions in income as a result of Covid-19, a suspension of all instalments due by September 30th 2020.

ALPHA BANK measures:

  • Medium and large sized companies with performing exposures on December 31st, 2019 can be subject to deferral at maturity of principal instalments with due date between March 1st, 2020 and December 31st, 2020, upon request.
  • Individuals and self-employed persons who face financial difficulties due to Covid-19 are offered suspension of all instalments until June 30th, 2020.

EUROBANK unveiled on April 7th, 2020 new measures concerning customers with loans and holders of credit performed as at December 31st, 2019 which include:

  • For companies with performing exposures as at December 31st, 2019, a suspension of principal installments with due date December 31st, 2020 and a deferral of loan maturity up to 9 months.
  • For small & medium enterprises with performing exposures as at December 31st, 2019, a suspension of principal installments with due date September 30th, 2020 and a deferral of loan maturity up to 6 months.
  • For self-employed persons with performing exposures as at March 31st, 2019 or less than 90 days past due, a suspension of all instalments for 3 months and with a deferred capitalized interest at the end of suspension period.
  • Self-employed must also fall within one of the categories below to benefit from the said relief and to be entitled to the State allowance of 800 euros, to be a pensioner or a confirmed case of COVID-19, not to fall under the scope of Law 3869 2010 and Law 4605 2019.

PIRAEUS BANK measures:

Individuals with performing mortgages or consumer loans may apply for a suspension of all instalments up to 3 months.

Please refer to our previous reporting on SEEME measures related to coronavirus here.

For more information or to discuss additional Covid-19 support in Greece, please contact our Athens team at athens@eurofast.eu

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