Greek banks increase funding of shipping

Greek banks continue to increase financing to shipping companies, contrary to the European trend that shows a limitation of banks’ exposure to the sector.

According to the latest available data, Greek banks increased their portfolio by 4.6% to $13 billion, from $12.5 billion the previous year.

All four systemic banks are included among the 40 largest creditors of global shipping, per the annual survey by Petrofin Research: Alpha is in 32nd place, Eurobank in 33rd, Piraeus Bank in 34th and National Bank in 40th.

Total bank lending to Greek-owned shipping companies from Greek and foreign banks is at the level of $51.9 billion.