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Credit Agricole Greece Desires 400 Million Euro Loan Buyers

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Credit Agricole Leasing Greece, the third-largest bank in the nation, desires about 400 million euros worth of loan sales, acquired mainly by the real estate sector.

According to Kathimerini, three parties are predicted to buy the loans, after sixteen preliminary bids were made.  May marks the deadline for binding offers. Approximately 80% of the loans are endorsed by 150 Greek buildings, while the remaining 20% are insured by leased properties. A portion of the loans are paying interest and the remaining are in default.

Athenian Credit Agricole Leasing Director Anastasios Karkazis refused to comment on the matter. The financial institution is based in Montrouge, France and Credit Agricole Leasing Greece is the company's sole surviving business in the nation.