November 2020 - NPL Confidential

IMF: Hercules is a major success towards reducing NPLs in Greece

30 November 2020 Editors

Hercules securitizations are a partial solution because they will only help reduce the existing stock of NPEs by close to 50%. The government should asse Bank of Greece proposal for the creation of a bad bank on a comprehensive cost-benefit analysis including potential fiscal costs.

Ministry of Finance disbursed 9,9 million euros from GEFYRA project

30 November 2020 Editors

Ministry of Finance disbursed the first tranche of the mortgage loan subsidy program known as “GEFYRA”.

Management of overdue Alpha Bank loans go to Cepal Dec. 1

30 November 2020 Konstantinos Papagrigoris

Alpha Bank in the context of the implementation of its Strategic Plan, announced the completion of the carve out process of the Bank’s NPE management activity to Cepal Hellas providing
management services for loan and credit receivables. .

Vivartia take it or leave it offer

30 November 2020 Editors

With a unanimous decision, the MIG Board of Directors reportedly signed a Stock Purchase Agreement (SPA) with the fund CVC on Vivartia for 175 million euros. The buyer will also take on all Vivartia loans, amounting to 425 million euros.

Motor Oil close to agreement with Piraeus Bank

30 November 2020 Editors

A deal brewing between Motor Oil and Piraeus Bank seems to be causing irritation to the other creditor banks. The…

A.Enria: Greek banks must accelerate the clean up of their ballance sheets

29 November 2020 Editors

Asset management companies (bad banks) are tools that are able to free banks’ balance sheets from bad loans and enable them to support households, small businesses, and corporates. The mutualization of losses among Eu member states can be averted.

CVC offers 175 million euros for Vivartia

27 November 2020 Editors

With a unanimous decision, the MIG Board of Directors reportedly signed a Stock Purchase Agreement (SPA) with the fund CVC on Vivartia for 175 million euros. The buyer will also take on all Vivartia loans, amounting to 425 million euros.

Government dusts off bad bank proposal

27 November 2020 Konstantinos Papagrigoris

The Pissarides report brings a change in stance from the government regarding the evaluation of a proposal from Bank of Greece governor Yiannis Stournaras on the creation of the Asset Management Company (AMC), known to the general public as a bad bank.

Davidson Kemper Capital Management buys in Greece, but sells in Itay.

26 November 2020 Editors

Τhe US fund bought Cepal in Greece but puts Prelios for sale. One of the main groups active in Italy and Europe in alternative asset management and specialist real estate services, with over 40 billion in managed assets.

Alpha Bank’s new NPEs at 1 bln euros

26 November 2020 Konstantinos Papagrigoris

The management of Alpha Bank has estimated new non-performing loans arising after the lifting of the moratorium at the end of the year to be at one billion euros. The Arrears Ratio (NPLs) in Greece is expected to reach 13% of the total loan portfolio, while the Non-performing Exposure Ratio (NPEs) will decrease to 24% from 43% at the end of the nine months