Private debt settlements through the out-of-court mechanism are proceeding at a rapid pace, with the initiation of new applications reaching 6,513 in September and new submissions totaling 2,955.
Monthly settlements also moved to a high level, reaching 1,789, amounting to 524.4 million euros, confirming once again the initial forecasts of the Ministry of National Economy and Finance regarding the increase that the measure of mandatory inclusion of eligible debtors with expanded criteria would bring, as noted in the announcement.
Meanwhile, the average monthly volume of settlements has increased by 28% compared to the period before the procedure was made mandatory.
43,533 successful debt settlements
A total of 43,533 successful settlements for initial debts amounting to 14.08 billion euros had been recorded by the end of September, which had been settled through the out-of-court mechanism. At the same time, the approval rate reached 79%.
New historical lows in non-performing loans
At the end of the first half of the year, based on official data from the Bank of Greece published in September, a further decline in the non-performing loans index was recorded, compared to the previous quarter, thus marking a new historical low of 3.4%.
