May 2020 - NPL Confidential

S&P: Italian banks make steady progress in bad loan reduction but future uncertain

30 May 2020 Editors

Italy’s biggest banks have steadily reduced their nonperforming loans, according to a Standard and Poors report since the end of…

Intrum buys €1.1 bn. NPLs from PQH for €71 million.

29 May 2020 Editors

Intrum announced that it has completed the transaction of buy out of Aeolus from PQH. Aeolus. consists of non-performing retail…

Greece’s economic sentiment continued falling in May

29 May 2020 Editors

Although consumer confidence steadied Greece’s Economic Sentiment Indicator (ESI) fell for a second month in a row sharply in May, albeit…

P. Mylonas: Securitizations will proceed in the Q3 2020, €416 mil. new NPLs due to Covid-19

29 May 2020 Konstantinos Papagrigoris

Loan impairment provisions amounted to 486 million euros, up from 107 million in the fourth quarter, reflecting the full absorption of anticipated COVID-19 related lending losses.

Alpha Bank to restart Galaxy project next week

29 May 2020 Konstantinos Papagrigoris

Bank post a net loss from continuing operations of 10.9 million euros versus net earnings of 5.4 million euros in the previous quarter, due to higher loan impairment provisions and weaker trading income.

T. Panousis sees mergers to create stronger credit servicing firms

29 May 2020 Editors

According to Tassos Panoussis of Eurobank FPS, there was a reduction in collections by servicers between March 15 and the end of April.

Greece is taking a different path from Italy in bad loans securitization

28 May 2020 Editors

Over the last two years, Italy has securitized €71.5 billion of debts, leading some to suggest the wave has already peaked. However, with GACS being extended until May of next year, it can still be a useful tool for offsetting bad debt.

Greece seeks to weed out strategic defaulters from Katseli law

28 May 2020 Konstantinos Papagrigoris

Borrowers who have applied for protection under the Katseli law will soon undergo a double electronic check in order to determine whether they indeed qualify for this assistance or whether they have submitted applications simply to save time.

Intrum Hellas: There will be an increase of bad debt but no Armageddon

27 May 2020 Athina Korlira

Intrum Hellas managing director and Intrum Group executive council member, George Georgakopoulos estimates that there is going to be an…

Pancreta Bank to launch tender for 780 million euros NPL sale

27 May 2020 Editors

Pancreta Bank, the biggest co-operative bank in Greece, has launched a tender for the sale or securitization of a small portfolio of bad loans and the servicing of all the NPEs that will remain in its balance sheet. The major shareholder in Pancreta Bank is Lyctos Participations owning 21.49% of its share capital.