May 2020 - Page 10 of 10 - NPL Confidential

BC Partners to repay 40 million euros to banks from Forthnet debt

4 May 2020 Editors

BC Partners seems able to repay 40 million euros of Forthnet’s 350 million euros total debt. This was the key factor that determined the choice of payee banks being BC Partners and Nikos Stathopoulos.

Equity funds take upper hand in crisis

4 May 2020 Athina Korlira

As the entrepreneurial sector faces serious problems by the long-lasting lockdown in the economy, equity funds have made their reappearance…

QQuant to take on management of Attica Bank NPEs in May

4 May 2020 Konstantinos Papagrigoris

To better implement the agreement, QQuant will hire about 20 employees from Attica Bank who are involved in the management of the bank’s NPEs. At the same time, Attica Bank has also started the necessary preparations for the establishment of the SPV in which the NPE’s will be transferred.

Ministry of Finance forecasts a 4.7% recession in 2020

3 May 2020 Editors

The Greek economy is expected to contract by 4.7 pct this year as a result of the measures taken to halt the spread of the coronavirus pandemic according to the Ministry of Finance. The economy will recover in 2021 as GDP is forecast to increase by 5.1%.

These are the ECB’s scenarios for the impact of the COVID-19 pandemic on economic activity in the euro area

1 May 2020 Editors

The ECB has drafted three alternative scenarios to illustrate the range of likely impacts of the COVID-19 pandemic on the…

Τhe Government’s program to subsidize loan payments for those hit by pandemic

1 May 2020 Konstantinos Papagrigoris

Only 3,198 applications had been submitted from 90,000 potential beneficiaries of the existing protection law. For the same period, ie from July 2019 to March 2020, about 210,000 loans were restructured in negotiations between loan holders and banks and loan managers.

S&P: NPL servicers in Greece could face liquidity problems and overstep restructuring plans

1 May 2020 Editors

Measures taken to curtail the spread of COVID-19, could make the ambitious task of selling over €30 billion of NPLs in 2020 using “Hercules” more difficult for Greek banks, says credit rating agency.