Economy · Greece
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8 July
The Bank of Greece challenges four consumer unions following their allegations.
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The Bank of Greece (ΤτΕ) has formally responded to a legal notice received from four consumer associations on June 24, 2026. The associations, which include the General Confederation of Consumers of Greece (ΙΝΚΑ) and other professional bodies, raised concerns regarding the management of non-performing loans, specifically in relation to loan securitizations and the Hercules Asset Protection scheme.
In its detailed 192-page response, the Bank of Greece addressed the issues raised in the notice without engaging in broader policy discussions. It emphasized its commitment to a framework designed for the effective management of non-performing loans, asserting that it is focused on fostering financial stability and consumer protection.
The responses from the consumer associations and other stakeholders represent ongoing dialogue about the complexities of private debt management in Greece, reflecting the broader economic challenges facing the country. The Bank of Greece's letter is part of its ongoing efforts to clarify its positions and actions in response to public concerns regarding financial practices in the banking sector.
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