2020 - Page 51 of 77 - NPL Confidential

Piraeus Bank takes steps on key securitizations and hive down

2 June 2020 Konstantinos Papagrigoris

In the context of the hive down process, the bank will make all the necessary preparations for the securitization of non-performing exposures (NPEs) with a book value pre provisions of 7 billion euros via the Phoenix (2 billion euros) and Vega (5 billion euros) portfolios.

Greek Banks request a two-year extension of deferred tax law

2 June 2020 Christos N Konstas

All 4 systemic banks are mulling for a two years extension of the deferred tax assets legislation, in an…

Piraeus Bank NPEs stand over 24 billion Euros

2 June 2020 Christos N Konstas

Piraeus Bank reported that NPEs stood at 24.1 billion Euro at the end of March 2020 down from 24.5 billion…

Alpha Bank moving ahead with Galaxy project

1 June 2020 Konstantinos Papagrigoris

According to the schedule presented by the Alpha Bank CEO, the application to include the securitization in the “Hercules” state guarantee mechanism will be submitted in the fourth quarter of the year. Earlier, the bank will have completed the necessary procedures for the full acquisition of the loan management company Cepal, a majority stake of which will be sold to the preferred investor.

Pantelakis Securities: Unchanged consideration paid by doValue, smaller capital hit on Eurobank

1 June 2020 Editors

Pantelakis Securities latest report on Eurobank estimates that banks’ upfront capital hit due to the Cairo project is smaller by …

Pace picks up on Greece’s bad debt market

1 June 2020 Konstantinos Papagrigoris

“We are closely monitoring international markets,” a high-ranking bank official told NPL Confidential, “and now the horizon in front of us allows us to keep our mechanisms on high alert so that securitization projects can run as soon as conditions allow it. It is commonly accepted that this won’t be too long”.

Resilience in real estate supports NPL deals

1 June 2020 Editors

Α 5 percentage point increase in the recovery rate – from 25 percent to 30 percent – leads to a 20 percent increase in NPL price.

Βanks speed up the Malamatina sale

1 June 2020 Editors

Malamatina, with a market share of 40% in the Greek wine-retsina market, is one of the sector’s brands for which…

Low profitabity of banks creates challenge in NPL resolution

1 June 2020 Editors

During crises, NPLs typically follow an inverse U-shaped pattern. Only less than a fifth of banking crises avoid high NPL levels – which we define as NPLs exceeding 7% of total loans.

Eurobank works on Cairo securitization, doValue deals

1 June 2020 Konstantinos Papagrigoris

In mid-June, the bank will decide on the transfer of the securities to a Cypriot SPV and at the end of the month, the loans of the Cairo portfolio will be transferred from the Eurobank balance sheet. Shareholders will receive shares in the new SPV by the end of the summer after approving the transaction at a July 17 general assembly.