Banks are preparing a major endeavor to restructure problematic corporate loans which extend across four key business sectors and add up to some 5-5.5 billion euros.
In the coming weeks and months the credit sector aims to tackle loans worth 1.1 billion euros in the steel industry (of which about half are nonperforming), a billion taken out by car dealerships, 2-2.5 billion euros in hotel companies bad loans and another billion concerning hospital suppliers.
At the same time, despite major delays, banks have proceeded to the restructuring and streamlining of nine major corporations, tackling bad loans that add up to 1.7 billion euros. They concern fish farming companies Dias, Selonda and Nireus, supermarket chains Veropoulos and Marino…
Read the full article at: http://www.ekathimerini.com/216648/article/ekathimerini/business/greek-banks-prepare-to-restructure-corporate-loans-of-5-bln-euros