Galaxy Archives - NPL Confidential

A week’s delay for Alpha Bank’s Galaxy sale

26 October 2020 Christos N Konstas

Alpha Bank’s binding bids for the sale of its entire stake in loan servicing company Cepal and an up to…

Green light for guarantees in Cairo project from Hercules plan

28 April 2020 Konstantinos Papagrigoris

Despite the turmoil suffered by the economy due to the pandemic, the Finance Ministry, banks, and loan servicers have been drawing on all means, including the Hercules plan, to reduce existing non-performing loans and manage the new wave of bad debt expected.

Alpha Bank moves ahead with Galaxy project

27 April 2020 Konstantinos Papagrigoris

Alpha Bank is working on the transaction through the transfer and securitization of loans and other credit (consumer, housing, and business) to special purpose companies (SPVs) established for this purpose.

Cost rises for state guarantees in Hercules bad loan plan

13 April 2020 Konstantinos Papagrigoris

The crisis in the economy is expected to bring significant changes to the structure and operation of the Hercules plan, with the most characteristic being the increase in the cost of guarantees compared to what had been originally set.

Banks with 11.6 bln euro of capital buffer to implement NPE reduction in 2020

5 April 2020 Konstantinos Papagrigoris

*The NPE ratio in Greece decreased by 15,2 bln euros, , to 32.2 percent in the fourth quarter of 2019.
* Banks in 2019 strengthen their capital position which is now valued at 11.6 bln euros.

Alpha Bank: Galaxy project delayed due to coronavirus

30 March 2020 Christos Ziotis

Alpha Bank has decided to push back dates for non-binding bids to be submitted on the Galaxy project and hold off on the signing of a binding deal for Neptune project.

Alpha Bank postpones Galaxy and Cepal Sale

24 March 2020 Christos Ziotis

Alpha Bank is going to postopone the deadline for non-binding bids in project Galaxy and the Cepal Sale.
Pimco, Lone Star, Bain, Elliott, Cerberus and Varde will reportedly participate in the process,
Completion of project Galaxy will reduce Alpha’s domestic NPE stock to EUR3.5bn by 2022