Eurobank EFG, responding to the unprecedented conditions created by the economic crisis and the inability of certain banking system customers to meet their loan obligations, is fully prepared to implement the Law on “The settlement of debts of heavily indebted individuals”. As is known, the law was passed by the Greek Parliament, and shall enter into force on 1/09/2010.
Regardless of the new law, from the outset of the crisis, Eurobank implements and will continue to offer special programs to facilitate customers facing substantial problems in fulfilling their obligations. Eurobank’s policy reflects the role and principles of corporate social responsibility, responsible lending, and its sustained commitment to support its customers under any conditions, thereby supporting the broader effort to restore the Greek economy.
These programs, which involve a combination of extending loan durations, grace periods, and property mortgages, which the Bank has implemented since early 2009, have already benefited tens of thousands of customers. The offered solutions are tailored-made, adapted not only the needs but also to the particularities of each customer, leading to cuts in monthly instalments as high as 50%.