the insider’s guide

Ahead of pandemic, Greek consumers in most dire position in Europe-survey

Greek consumers are struggling the most in Europe with nearly two-thirds saying that they can't keep up with rising living costs, according to an annual consumer survey put together by Intrum. Only 56% of Greek consumers are confident in their ability to pay their bills.

Eurobank-doValue deal a crash test for Hercules plan

Under these circumstances, Hercules plan is unable to achieve the expected disposal of problem assets and now the market considers the Eurobank-doValue agreement to be a critical crash test for Hercules in view of the difficult conditions.

National Bank: Securitizations, loan restructurings the medicine to the coronavirus

The completion, albeit delayed, of planned securitizations and at the same time, continued restructuring of NPEs through the "Split & Settle" program are the two key parts of the strategy being implemented by the management of the National Bank of Greece.

Intrum profits fall by 66% in first quarter

Ιntrum, Europe’s biggest debt collector, reported a 66 percent drop in first-quarter profit, hit from business in southern Europe – France, Greece, Italy, Portugal, and Spain.

Μοhegan: finance obstacles lie ahead

Questions arise whether financing the Helenikon project is secured after Moody's downgraded the company, to Caa2  from B3, warning on increased credit risk and a negative outlook.

Hercules will come late in Greece, says Standard and Poors

The credit rating agency believes the emergence of the coronavirus and measures to contain the outbreak have stopped the positive economic momentum in Greek and Cypriot banking industries.

Will Fraport be given grace period on obligations to Greek state, banks?

Amounts owed by the company to the Greek government are rising. Fraport has also has borrowed loans worth 986.4 million euros from a bank consortium, to buyout 14 of the country's regional airports.

Greece to subsidize monthly payments of mortgages with a bridge pogramme

To contain NPL increase this year due to economic slowdown, the Greek government is planning to subsidize mortgage loans for lenders hurt by the Convid-19 crisis, revealed Finance Minister Christos Staikouras revealed today.

Greece plans to raise EUR 4bn from the markets until the end of 2020

Assuming new issuances of EUR4bn, a pick-up in outstanding T-bills raising the stock back to EUR12.5bn and a Covid-19 fiscal cost of EUR12bn, the state coffers could end 2020 with approximately EUR30bn, providing ample resources for weathering the crisis.

This is how the new BoG’s bad bank plan will work

The Greek Bad Bank plan aims to include both the current stock of non-performing loans, (about 68 billion euros) as well as the new NPLs created by the CoViD-19 crisis.

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