Tens of thousands of households in Greece facing financial problems are to be given a breather, as Piraeus Bank announced that it will write off debts from consumer loans and credit cards, as well as freezing housing loans and writing off the interest.
According to the bank’s statement, all of its clients can benefit from this initiative, provided they fulfill the requirements as stipulated in the recent bill voted in Parliament to address the humanitarian crisis. In this case, the bank will write off 100% of debts up to 20,000 euros (from consumption loans and credit cards), will freeze housing loans and write off their interest payments.
Bank sources reported that this initiative will cost tens of millions of euros, but crucially it paves the way for other Greek banks to take similar initiatives. The same sources noted that this is the first case of a mass debt write off, under pressure from the humanitarian crisis in Greece. The bank underlined that the intervention reflects tis commitment to adapt to the needs of the economy and Greek society, in an ever-changing environment.
Further information is available in all 803 branches of Piraeus Bank in Greece as well as on the bank’s website.
