18/11/2015 15:59
The Cooperative does not intend to utilize the tool of sale of loans and this is not included in its strategic planning, the president of the Cooperative Central Bank Nikolas Xadjigiannis stressed today.
Speaking to reporters in the aftermath of the announcement of the nine-month results of the cooperative made last Thursday, Mr. Xadjigiannis explained that "the nature of our loans and the way the cooperative is operating we do not see any economic benefit neither strategic nor social from adopting this bill".
Asked if the cooperative uses the other tool, that of foreclosures, he pointed out that the procedures are in operation and that a number of letters have been sent to affected loan holders.
Commenting on the same issue Mr. Giannos Stavrinides head of the cooperative's strategic communication, said that till today about 600 letters have been sent to loan holders whose loans are not being serviced.
He noted that none of the 600 letters relates to primary residence loans, vulnerable groups, individuals with health problems or incapacitated individuals.
"The letters primarily have to do with business loans, secondary and holiday homes and their sending started last August" he said.
Regarding the state aid of €150 mn to be given to the cooperative and up to what extend there will be further needs for capital increases, Mr. Xadjigiannis noted that according to their data the capital adequacy ratio before provisions stands at 16%.
"It is a matter of parameters based on the ECB regulations and these should change" Mr. Xadjigiannis noted.
Speaking to reporters in the aftermath of the announcement of the nine-month results of the cooperative made last Thursday, Mr. Xadjigiannis explained that "the nature of our loans and the way the cooperative is operating we do not see any economic benefit neither strategic nor social from adopting this bill".
Asked if the cooperative uses the other tool, that of foreclosures, he pointed out that the procedures are in operation and that a number of letters have been sent to affected loan holders.
Commenting on the same issue Mr. Giannos Stavrinides head of the cooperative's strategic communication, said that till today about 600 letters have been sent to loan holders whose loans are not being serviced.
He noted that none of the 600 letters relates to primary residence loans, vulnerable groups, individuals with health problems or incapacitated individuals.
"The letters primarily have to do with business loans, secondary and holiday homes and their sending started last August" he said.
Regarding the state aid of €150 mn to be given to the cooperative and up to what extend there will be further needs for capital increases, Mr. Xadjigiannis noted that according to their data the capital adequacy ratio before provisions stands at 16%.
"It is a matter of parameters based on the ECB regulations and these should change" Mr. Xadjigiannis noted.