Bank of Greece study finds one in six local firms is strategic defaulter

EconomyMacroeconomy Tags: Banking, BoG, NPLs
Photo by MacroPolis
Photo by MacroPolis

In a separate section of the interim Monetary Policy Report published on Friday, the Bank of Greece (BoG) discussed the issue of corporate strategic defaulters i.e. companies that have stopped servicing their loans despite having the ability to make the payments.

The study examined a sample of 13,000 firms with outstanding loan obligations of at least 1 million euros each between 2010–2015. The loan stock of that sample stood at 57 billion euros, of which 19 billion were classified as non-performing.

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