National Bank to launch online property auction platform next month

National Bank of Greece (NBG) is set to launch next month its own online platform to auction off property, following in the steps of the country’s largest lender, Piraeus Bank, said George Frangou, head of group real estate at NBG, on Tuesday.

Last year, Piraeus Bank was the first lender in the country to launch its own online property auctions via for assets tied to non performing loans.

Speaking at the RED Business Form, Frangou said that work is being done on NBG’s platform and that it will be completed soon.

Piraeus Bank sells about 300 properties per year via, according to officials at the lender.