According to the announcement by the Hellenic Association of Debt Management and Creditors (EEDADP), nearly half of the total portfolio (44.5 billion euros) consists of assets from the “Herakles” program, which is backed by a state guarantee. The loans under management by the member companies affect a total of 2,572,142 borrowers.
The loan restructurings for the first half of 2025 reached €3.2 billion, maintaining levels similar to the corresponding period of the previous year, despite the maturation of the portfolios.
The progress of the Out-of-Court Debt Settlement Mechanism during the first half of 2025 highlights its importance in addressing the issue of private debt in Greece. The relevant settlements now account for 25% of the total restructuring efforts by EEDADP. The approval rate from management companies reached 91% in June.
The increased participation of the Out-of-Court Settlement Mechanism in the overall restructuring of non-performing loans, following the broadening of the eligibility criteria, underscores the need to both maintain the acceleration of these settlements and ensure their long-term sustainability, which will, in turn, positively impact the “Herakles” program.
Specifically for vulnerable debtors, since the launch of the mechanism, more than 3,700 loans have been restructured, including 170 cases involving borrowers with disabilities, with the total loan amount for both categories approaching €1 billion.
As stated in the announcement, the loan management companies are successfully responding to a high and increasing volume of calls and requests. The call centers of the companies received an average of 105,000 calls per month, an increase of 10% compared to the same period in 2024, with 90% of the calls being resolved the same day. Similarly, the number of requests submitted increased by 12%, reaching an average of 32,000 per month, with an improved average handling time of 9 days.
Additionally, the EEDADP member companies have fully operationalized debtor information platforms. Through these platforms, borrowers can access all relevant information about the loans managed by the respective companies, such as loan balances, amounts, and deadlines for upcoming payments. Currently, 81,526 debtors have registered as users of the platforms. The EEDADP urges all debtors to sign up and make use of the opportunity for comprehensive, immediate, detailed, and transparent information regarding their debts.
