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Piraeus Bank Offers Positive Environmental Friendly Loans

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Piraeus Bank SA heads have confirmed its 1.58 billion euros worth of environmentally friendly loans since 2007, that have assisted the Hellenic job market.

The financial institution's green banking leader Vrasidas Zavras, claimed the eco efforts have resulted in a variety of the bank's lowest nonperforming loan rates. Green nonperforming loans were approximated at less than 10%, compared to standard nonperforming ones that held 37.9% of March's total loans.

Environmental loans have guaranteed projects by 3 billion euros and have aided around 7,000 small and medium sized businesses, that resulted in 17,700 associated jobs, as stated by Piraeus Bank, according to Kathimerini.

Zavras added, "The whole thing is much more sustainable" than other businesses endeavors. The green banker further commented, "During the recession period, this business was not reduced."