Eurobank EFG adopts measures to support Greek households, lower income groups and SMEs | Eurobank
Choose Language Top Menu Main Menu Extra Button Menu Page Contents Footer Search

Eurobank EFG adopts measures to support Greek households, lower income groups and SMEs

Eurobank EFG, despite the current financial crisis, continued to seamlessly finance Greek households and businesses by extending, in October alone, over € 500 million of loans.
With great sense of responsibility towards servicing the needs of Greek households, lower income groups and SMEs, the Bank announces the following measures:
Deposit account interest rates
Deposit interest rates shall not change despite a drop in loan interest rates, which automatically adjust to respective reference (ECB and Euribor/Libor) rate cuts.
Greek households and lower income groups
  1. Property foreclosure and auctions are frozen, for up to six month arrears for first house mortgage loans of up to 300,000 €.
  2. Payment of mortgage loan installments, including capital and interest, may be put on hold for unemployed OAED (Labour Force Employment Organisation) beneficiaries up until the end of the year 2009 upon application filed by the interested parties regarding their inclusion in this program.
  3. Interest rates drop by up to 1% for credit card holders and up to 0.5% for consumer loans depending on the type of product, as of November 17, 2008.
Small- and Medium–sized Enterprises (SMEs)
  1. The sum of € 200 million has been earmarked for new loans to be issued in the last quarter of 2008 with a view to enhancing liquidity for small enterprises and respective professionals.
  2. Another € 30 million is granted, in cooperation with the European Investment Bank, to modernize SMEs.
  3. The Bank participates in a scheme to strenghten SMEs liquidity through programs subsidized and guaranteed by TEMPME SA (the Greek Credit Guarantee Fund for small and very small enterprises).
Moreover, as of the start of the financial crisis, the Bank has adopted a flexible policy for loan restructuring to facilitate borrowers who belong to lower income groups facing liquidity problems.
For further information on all of the above, the Bank’s customers are advised to directly contact the network of Eurobank EFG branches and POS.