HSBC has been steadily lowering its exposure to Greek shipping, selling off loans to other lenders or letting outstanding business expire, according to several shipping and ship finance players in Athens.
“I’d say that it’s as good as confirmed,” said one banking executive who has been approached by Greek HSBC clients to refinance credit.
HSBC announced early last year that it had agreed to sell its entire Greek branch network and the retail and corporate business that goes with it, to Pankritia — a small regional lender led by local banking veteran Michael Sallas.
