Intrum Hellas chief: We brought back to Piraeus Bank NPLs worth one billion euros in 2020

The Greek market needs credit and claims managers with high specialization and the ability to meet major and complicated transactions, Intrum Hellas managing director George Georgakopoulos told participants at the Smith Novak, Global NPL 2021 conference.

In his intervention at the international conference, which attracted representatives of the entire NPLs spectrum, Georgakopoulos also emphasized the need for rules and a specific procedure to bring back loans into the banking system that have previously been securitized and, via proper management, “rehabilitated”.

“In 2020 we brought back to Piraeus Bank loans in the neighborhood of one billion euros, of which 300 million euros were business loans – there is no provision for loans which have been included in securitization packages to again turn into serviced loans,” he said, adding that the greatest volume of NPLs are now securitized loans.