Friday 27 January 2023

ABN Amro refuses to restructure Greek railway and metro debt

Nationalised Dutch bank ABN Amro is refusing to restructure the €1.3bn in debt it is owed by the Greek national railway company and Athens metro, a spokesman confirmed on Wednesday.

The debts – a mixture of corporate bonds and loans – were part of the Greek government’s restructuring programme, but ABN Amro was unaware these debts were included, a spokesman for the bank told reporters.
‘We were surprised to see these obligations on the restructuring list and we do not understand why some similar loans were on this list and not others,’ Arien Bikker told news agency AP.
The bank does not accept these loans made to state-owned companies are included in the debt relief package, Nos television said. This means ABN Amro is one of the few European banks not to take part in the voluntary debt restructuring, the Financieele Dagblad said.
ABN Amro has already booked a €880m loss on the value of its Greek debts.

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