the insider’s guide

T. Kalantonis: NPLs will reach 80 billion euros

Foreclosures are absolutely necessary to implement enforced measures. The solution of a bad bank is not in the government's plans unless it becomes a pan-European initiative.

National Bank – Bain Capital deal on Icon project a matter of time

Bain called for a revision of the terms on the Icon project agreement, proposing a price reduction in exchange for inserting an earn-out clause in the deal, which means that NBG participates in future profits from the management of the loans.

Yannis Stournaras’ new plan for a “bad bank”

The Bank of Greece is working on a plan for the creation of a “bad bank” to which all nonperforming loans (NPLs) of banks will be transferred. Still, as reported by the FT, the EC recently rebuffed an ECB proposal for a euro zone-wide bad bank.

doValue asks for minor adjustments to complete the Cairo

doValue has asked Eurobank for minor tweaks, such as changes in the timing of management fees and the extension (by 1-2 years) of the servicing agreement.

Green light for guarantees in Cairo project from Hercules plan

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.

Pancretan Bank weighs up 300 mln euro loan securitization

According to NPL Confidential's sources, the bank is leaning towards transferring the management of the problem loans as part of efforts to improve its balance sheet and has started initial contacts with the market to assess the existing environment.

BC Partners to repay 40 million euros to banks from Forthnet debt

BC Partners seems able to repay 40 million euros of Forthnet's 350 million euros total debt. This was the key factor that determined the choice of payee banks being BC Partners and Nikos Stathopoulos.

QQuant to take on management of Attica Bank NPEs in May

To better implement the agreement, QQuant will hire about 20 employees from Attica Bank who are involved in the management of the bank's NPEs. At the same time, Attica Bank has also started the necessary preparations for the establishment of the SPV in which the NPE's will be transferred.

AEGEAN seeks assistance

Aegean’s EUR500m-plus cash allows some flexibility to confront the virus turmoil. But this is not adequate given that yesterday the European Commission has approved a €7 billion French aid measure consisting of a State guarantee on loans and a shareholder loan to Air France.

Can Greece achieve a V-shaped recovery ?

Greece’s 2020 Stability Programme baseline scenario forecasts a 4.7% recession for this year, while the adverse scenario sees a deeper contraction (7.9%).

• Staikouras: The government extends the safety net for responsible borrowers

• Τhe Government’s program to subsidize loan payments for those hit by pandemic

• Equity funds take upper hand in crisis

• These are the ECB’s scenarios for the impact of the COVID-19 pandemic on economic activity in the euro area

• Rethink your Communication in the Age of Coronavirus

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