the insider’s guide

PwC: €150 billion of NPL portfolios expected to trade the next 2 years across Europe

Over the last 10 years, PwC data shows that NPLs with a face value of around €700bn have traded as portfolio transactions.

HSBC Pantelakis: The bad bank will cost more capital to banks than ‘HERCULES”

The solution of a bad bank will cost Greek lenders more capital to reduce their NPEs, than the Hercules Asset Protection Scheme according to an HSBC Pantelakis report.

Non-binding offers for Piraeus Bank POS arm expected by end Jan

 The management of Piraeus Bank has set an end January deadline for non-binding offers to be submitted on the sale of its card transaction settlement (POS) branch.

Banks, loan servicers send letter of complaint to govt over auction freeze

The total suspension of all enforcement operations "poses a serious risk to the recovery schedules of problem loans, including those that have been securitized by state guarantees through the Hercules plan."

doValue employees in Greece receive 1.5 mln euro bonus in first year

In a year when the start of Covid-19 and the loan moratorium virtually wiped out the revenues of loan management companies, doValue rewarded its employees by paying them bonus of 1.5 million euros.

Piraeus Bank’s push to offload problem loans progresses rapidly

The new business plan, which will provide for a more aggressive reduction of sour debt, will be presented in detail at the end of the first quarter of 2021.

Loans under moratoria reached €20,753bn end Nov.

Loans subject to suspended principal and interest repayments reached 20,753 billion euros at the end of November according to Bank of Greece data.

Lawyers threaten protest action if Katseli law deadlines are not extended

Greece's lawyers are asking for an extension to update applications submitted under the Katseli law, threatening to otherwise abstain from duties.

Intralot is heading to restructure 750 mill. Euros of bonds

Intralot has started discussions with creditors over 750 million euros debt restructure through a bond - equity swap.

Piraeus Bank in talks with Intrum for Vega EUR5bn NPE securitisation

Piraeus, as expected, has been involved in direct talks with Intrum over the planned Vega securitization (a mixed EUR5bn portfolio).

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