De-risking strategy: Soured loans are the biggest challenge facing Greek banks, the legacy of a debt crisis that shrank the economy by a quarter and drove high unemployment in 2013. —Reuters
ATHENS: Greece’s biggest lender Piraeus Bank says it has teamed up with Sweden’s Intrum to set up a platform to service its ?27bil (US$30bil) bad loan portfolio.
Soured loans are the biggest challenge facing Greek banks, the legacy of a debt crisis that shrank the economy by a quarter and drove unemployment to a high of nearly 28% in 2013.
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