With these two acquisitions, including the 53 million euro loans acquired from Eurobank, HIG has received 143 million euros in claims, with Alpha Bank still being the company’s largest creditor with the debt of 170 million euros.
he company (major shareholder is Claudia Resti, Victor Resti’s sister) announced that it has completed agreements with creditors for the restructuring of loans and convertible bonds, amounting to $179 million.
15 January 2021EditorsComments Off on Stournaras, Greek banks will face a higher burden from Covid related defaults.
The burden from new Covid-19 related defaults will be higher for banks that already had a high stock of NPLs such as Greek banks, where a big chunk (if not all) of the existing buffers was meant to be used to address part of their legacy NPLs .
The second wave of the pandemic crisis makes the need for “Hercules 2” imperative and has already begun to be assessed along with the new red loans and the cost of loan deferrals, amounting to 30 billion euros, provided by the banking system to support households and businesses.