January 2021 - NPL Confidential

National Bank applied for HERCULES

29 January 2021 Editors

Given that the nominal value of the mezzanine tranche in the Frotiner project stands at EUR 450 million , the maximum loss suffered by the bank cannot exceed that amount.

Loans under moratoria fell to €18,376 billion at Deember

29 January 2021 Editors

According to data from the four systemic credit institutions up to December 2020, the outstanding amount of loans subject to…

Th. Pelagidis: ECB May Be In Liquidity Trap

29 January 2021 Editors

The rapid delivery of EU Covid emergency funds was more important than ever, Pelagidis said, warning that financial conditions could worsen further due to cliff effects following the expiration of pandemic loan moratoria and state support measures.

Banks, loan servicers to meet with Finance Ministry on new bankruptcy law

29 January 2021 Konstantinos Papagrigoris

Banks and debt managers still consider the schedule almost inapplicable as most of the 50 joint ministerial decisions required are still in an early draft phase, with around 15-20 having been sent to regulators for initial approval. In irder to take care of the required banking issues, 15 joint ministerial decisions are required.

Enria supports the set-up of asset management companies at a national level

28 January 2021 Editors

The head of the Single Supervisory Mechanism (SSM), Andrea Enria, appeared less pessimistic about the volume of bad debt to emerge from the pandemic.

Moody’s: Rise in NPLs will constrain Greek bank’s efforts to improve asset quality

28 January 2021 Editors

Higher NPEs will place an additional strain on Greek banks’ plans to reduce their high stock of such exposures, which totaled around €58.7 billion.

Ιntrum Year -end announcement 2020

28 January 2021 Editors

Highly resilient performance in Q4, despite challenging operating conditions Credit Management Services positioned for growth with strong sales and record…

How the Hercules II guarantees will be distributed to banks

28 January 2021 Konstantinos Papagrigoris

Finance Ministry has agreed with official sector creditors to activate the Hercules II program, with the ministry’s legal services now preparing the relevant legislation that is expected to be tabled in parliament in March in order to come into effect May 1.

Auctions will partially restart after March 15

27 January 2021 Konstantinos Papagrigoris

Forced home auctions and enforcement procedures against borrowers in default will remain suspended until at least March 15, after which a partial restart will begin for those that have not been proven to be affected by the pandemic crisis.

Alpha Bank said to completing Galaxy

26 January 2021 Editors

Alpha Bank and Davidson Kempner (already selected as preferred bidder) are close to completing exclusive talks to seal an agreement in relation to the twin transaction of the EUR10.8bn NPEs securitization and servicer Cepal.