2020 - NPL Confidential

PwC tasked with out-of-court platform; Decision to slap cost on banks, loan servicers draws complaints

31 December 2020 Konstantinos Papagrigoris

For the government, the implementation of the new bankruptcy law by March 1 for businesses and June 1, 2021, for individuals is the big bet that will shape the outcome of the next post-memorandum evaluation of the country.

Some 40,000 borrowers may be locked out of Katseli law

30 December 2020 Editors

Some 40,000 borrowers are at risk of missing out on the beneficial provisions provided by the Katselis law if they do not update their data within 15 days.

doValue, Intrum, Davidson Kempner and Bain Capital in race for Frontier project

30 December 2020 Konstantinos Papagrigoris

All the “big” players of Greece’s domestic NPL market are at the starting point in the race for National Bank’s (NBG) Frontier project in a bid to further increase their managed portfolios.

Piraeus Bank sells Logothetis loans

29 December 2020 Editors

Piraeus Bank has started contacts with investors for the sale of loans belonging to shipowner Logothetis. Piraeus Bank CEO Christos Megalou is committed to a faster reduction of NPEs.

National Bank in talks with Castlelake on 52 mln euro Audio Visual loan

29 December 2020 Konstantinos Papagrigoris

Deloitte is continuing the negotiations with Castlelake, the sole interested buyer, for the sale of a 52 million euro loan issued by National Bank (NBG) to Audio Visual owned by businessman Nikos Vardinogiannis.

Clouds hanging over Halyvourgiki in 2020 remain in 2021

29 December 2020 Editors

The weight of debt, obligations from the Angelopoulos group remains a different puzzle to solve with both sides – father Konstantinos and sons George and Panagiotis – remaining opponents, making it extremely difficult to manage the situation.

Piraeus Bank sells to Intrum EUR1.92 mortgages ‘Phoenix” securitization at 50% GBV

28 December 2020 Editors

Piraeus Bank and Intrum signed a binding agreement for the sale of 30% of the mezzanine notes for the Phoenix securitization which amounts to €1.92bn gross book value.

25% of the companies say they may have shut down for good

28 December 2020 Editors

About one in four enterprises (23%) is contemplating the possibility of not reopening after the lockdown is lifted. The rate…

Greece is preparing to set up a Central Credit Register

28 December 2020 Editors

The government also is planning to send to the Commission the application for the second phase of the Hercules program, which will allow banks to reduce NPLs to single-digit figures in the next 18 months.