April 2020 - Page 6 of 10 - NPL Confidential

10% GDP contraction puts NPL secondary market to a bumpy road

14 April 2020 Editors

A prolonged recession in Greece will surge defaults and bad loans. A negative impact is also expected on the secondary NPL market. European Commission and the IMF forecast a 10% contraction this year.
Greek banks still carry most of NPLs in their balance sheet.

Tax details for restructuring of loans slow in coming

14 April 2020 Konstantinos Papagrigoris

Tax Authorities pose barriers to the process of identifying lenders that are entitled to loan restructure. Consequently,valuable time is wasted and the process of adjusting loans becomes extremely slow. Necessary data will become available to loan servicers after Easter.

H. Kissinger, Current Crisis would be more complex than 2008 Financial Crisis.

13 April 2020 Editors

In his recent, highly influential, article “The Coronavirus Pandemic Will Forever Alter the World Order” published in WSJ Henry A.…

EBA Report, Legacy Assets deteriorate as financial conditions are weakening

13 April 2020 Editors

Legacy assets remain material and are concentrated in a few countries. According to a Report by European Banking Authority (EBA),…

Cost rises for state guarantees in Hercules bad loan plan

13 April 2020 Konstantinos Papagrigoris

The crisis in the economy is expected to bring significant changes to the structure and operation of the Hercules plan, with the most characteristic being the increase in the cost of guarantees compared to what had been originally set.

Will Ferit Sahenk make it through the summer?

13 April 2020 Athina Korlira

Ferit Sahenk has been experiencing a lot of problems , as a result of the weak Turkish economy. On top of that the standstill of Greek tourism due to pandemic, is creating uncertainty on whether Dogus will hold on to Astir Palace partnership this summer.