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Banks may clean up their balance sheets with securitizations, but the problem of debt recovery is now being transferred to management companies.

NPEs fell from 29.2% in 2019 to 14%, the lowest among Greece’s systemic banks. The coverage of NPEs with provisions increased by 660 basis points and amounted to 61.9%, also the highest for a Greek systemic bank. 

Speaking in Parliament, the minister said that with a new law, Hercules is being extended for 18 months and 12 billion euros of additional guarantees are being provided by the state.

Services will be subject to supervision by an EU member state bank regulator. Fees and penalties charged by servicers would not be allowed to change,

The Hercules II program provides for state guarantees reaching 12 billion euros and will operate in accordance with what is already provided by the current law 4649/2019. 

After completion of Phoenix and Vega projects more than 10 NPL transactions are expected by the end of the year. Their gross value is calculated over 16 billion euros

The hospitality industry is the one that presents the most problem loans followed by construction sector.

 Greek banks must expedite the recognition of any new NPLs in their balance sheets as COVID-related support measures begin to be phased out.

With recession looming, 61 percent of firms say Covid-19 has motivated them to get better at managing the risk of…

The signing of the binding agreement between Piraeus and Intrum for the purchase of mezzanine and junior note of the Sunrise 1 securitization is expected in the coming days.