Piraeus Bank launches online loan, credit growth seen up in '18

Piraeus Bank, Greece's largest lender, will start issuing a new online loan, the first credit facility offered by a Greek bank that can be fully completed online.

The launch of the new product comes amidt expectations that credit growth will pick up in Greece this year due to improving economic conditions.

Piraeus Bank said in a statement that the online loan will be issued via the bank's winbank platform for consumer finance and will reward customers with its "Yellows" points system.

An expected uptick in disposable income levels this year is raising expectations for credit growth to pick up - a key condition for the recovery of the crisis hit real estate market.

Growth in investment activity and a small rise in disposable income are likely to help credit expansion grow in 2018, National Bank deputy chief executive Paul Mylonas said at a conference in Athens last week.

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