International rating agency Moody’s describes Greece’s credit conditions as a thorn in the side of Greece’s credit rating, as while they have improved in recent years, they remain negative, with significant challenges on the lending front affecting the prospects of the economy and banks.

Despite the fact that banks have offloaded these nonperforming exposure (NPEs), they continue to remain in the system, while new loans are being issued that have not been tested in the economic cycle, as it points out.

Moody’s notes that credit conditions in Greece, which it rates as negative, have improved in the last three to four years, with a significant reduction in banks’ NPEs, which, however, remain higher than those of European bonds.

As it says, banks’ NPEs have decreased to 6 billion euros, or 3.8% of total loans (according to March 2025 data), from €47.2 billion (or 30% of loans) in December 2020.

Nevertheless, Moody’s points out that approximately €78.3 billion of nonperforming loans (NPL), which concern both households and businesses, remain in the hands of servicers and therefore affect the overall assessment of credit conditions in Greece.

The significant reduction in total credits reflects the removal of non-core assets from banks’ balance sheets, the securitization/sale of NPE portfolios and write-offs, Moody’s says.

Greek banks, however, have started to grant new loans, aiming to capitalize on the economic recovery and the positive effects of the Recovery Fund. According to the Bank of Greece, the net credit flow between June 2024 and June 2025 was significant, around €12.6 billion, it said.

“However, this new lending to the real economy, which mainly includes corporate loans as households continue to deleverage, has not yet been tested in a full economic cycle. This factor leads to the negative adjustment to our assessment of credit conditions in Greece,” Moody’s notes.

The agency, however, estimates that any potential risks to vulnerable borrowers are expected to be offset by the resilience of the business sector and new loans related to Recovery Fund projects, which will help banks’ performing loan portfolios continue to expand.

Original Story: Ekathimerini | Author: Eleftheria Kourtali
Edition: Prime Yield

Servicer doValue is paving the way for banks to repay part of the guarantees given by the Greek government in the context of the Hercules securitizations through the sale of two loan portfolios.

These are loans from Eurobank’s Cairo securitizations that were securitized through Hercules – that is, they were sold to doValue and have now been streamlined – i.e. they are being serviced.

Their transfer by the investors who had purchased these loans will allow the repayment of the guarantee given by the government through the issuance of senior notes, thus reducing the burden on the public debt. The senior notes are held by the banks on their balance sheets, which, in turn, once the transaction is implemented, will repay the government the guarantee corresponding to these loans.

The portfolios for sale are the Alexandria portfolio, worth 1.5 billion euros, which includes regulated loans of 2,700 large and medium-sized enterprises, and the Giza portfolio, worth approximately €200 million, which includes mortgage loans that are now considered serviced.

The two portfolios will be transferred to investors, to whom the relevant information has already been sent in order for them to express interest and then submit binding offers. The process is being run on behalf of doValue by doAdvice (a subsidiary of the Italian doValue Group) and the goal is to close the transactions by the end of the year.

The transfer of these loans to a third-party investor in turn paves the way for their return to the banks, which is the ultimate goal.

Revealing the importance that banks attach to the return of these loans is an analysis by the National Bank of Greece, which raises to €40 billion the loans that currently belong to funds and could gradually return to the market in the coming years, either as “cured” or as a mechanism for new financing, strengthening credit expansion.

According to National, cleaning up the balance sheets of Greek banks can offer a significant opportunity for new credit, as the loans managed by the servicers or the guarantees that these loans carry, namely real estate, will gradually begin to return to the market and to a healthy economy.

Original Story: Ekathimerini | Author: Evgenia Tzortzi
Edition: Prime Yield

More than 13,800 vacant houses belong to banks and servicers from foreclosures.

The need to channel a large number of properties into the market is greater than ever, as limited supply is driving rental and purchase prices sky-high. In this context, banks, real estate management companies and the government are seeking to put more than 13,800 homes on the market to provide some “relief” to the housing crisis facing Greece, particularly in major urban centers.

Specifically, the sharp imbalance between supply and demand in the real estate market has led to rental prices increasing by 10.9% in just one year, while the overall housing sector rose by 6%, according to ELSTAT data.

This problem is further exacerbated by nearly 800,000 vacant properties, which remain unused. Of these, more than 25,000 belong to banks and real estate management companies, coming from foreclosures, and essentially constitute a “burden” for them as long as they remain idle.

Indeed, discussions have already taken place regarding the possibility of deferring the costs of legalizing these properties so that payment is not a prerequisite for their use. It is estimated that out of the 25,000 properties of all categories, around 13,800 are homes and apartments, with a total estimated market value exceeding €6 billion.

Bank-owned properties

All systemic banks, as well as Attica Bank, maintain at least one real estate platform, either managing the properties directly or operating as digital real estate agents.

The National Bank has two real estate platforms with different functions. The first is RealEstateOnline.gr, which provides access to properties owned by the bank, such as residences, plots, shops, offices, etc. It also provides access to the electronic auction platform for properties and movable assets, where customers can participate in auctions and request guarantees via internet banking.

The second platform is Uniko, the new digital real estate sales platform, operating as the first digital real estate agent in Greece with the support of the National Bank (49% stake). Its services range from finding a home, legal due diligence, certification and appraisal, to financing through the National Bank and digital contract completion.

Piraeus Bank, through Piraeus Real Estate, manages pbre.gr, where interested parties can find high-value properties, both residential and commercial.

Alpha Real Estate Services, part of Alpha Bank, manages and exploits properties owned by the bank and third parties, providing comprehensive services such as valuations, sales, leases, property management and project coordination. In addition, it has a presence in Southeastern Europe through subsidiaries.

At the same time, Alpha Property Management and Investments S.A., a group company founded in 2018, undertakes the valuation, management, utilization and sale of properties acquired by the bank mainly through non-performing exposures (REOs).

Eurobank’s findyourproperty.gr platform offers easy property search and support from experienced partners, as well as financing proposals to complete the purchase. It lists residential, commercial and investment properties such as homes, plots, shops, offices, warehouses, buildings and hotels.

The bank has also invested in the digital platform Prosperty, which creates integrated digital real estate ecosystems aimed at increasing transparency, speed and efficiency in property promotion and sales.

Attica Bank clients who are beneficiaries of the “My Home 2” program have access to properties ready for transfer from the portfolio of Resolute Cepal, through a recent collaboration of the two entities.

In addition, they have access to the My Home platform, developed for its clients by Ask Wire, offering customized searches enabling interested parties to locate available properties that meet the program’s requirements.

Platforms from servicers

doValue, Intrum, Cepal and QQuant are the four largest servicers in Greece, managing around 90% of non-performing loans, with a total value of approximately €70 billion.

Altamira Properties is a real estate platform from doValue, offering a comprehensive digital experience of searching for and acquiring properties throughout Greece. The platform targets both investors and individuals, providing easy, user-friendly and interactive property presentation, updates on new opportunities, and access to full property management services.

Intrum operates Intrum REO, which facilitates the management and sale of properties through an innovative business model, leveraging cutting-edge technology and an extensive partner network.

Cepal Group partnered with international company Resolute Asset Management Group to establish Resolute Cepal Greece Group (RCG), which provides comprehensive property management services, consultancy, technical and legal due diligence, as well as strategic planning for their utilization.

Original Story: Business Daily Greece | Author: Ελευθερία Τσιπιτώρη Edition: Prime Yield

Greece’s four largest banks (Alpha, Eurobank, National and Piraeus), registered a net credit expansion of €4.7 billion in the first half of 2025 compared to the same period in 2024. 

If one includes all group activities abroad, credit expansion reached €5.5 billion. 

The expansion is due to the financing of projects partly funded by the European Union’s Recovery and Resilience Fund; also, banks emphasized credit to small and medium-sized enterprises rather than households. 

The trend is expected to continue in the second half of the year. 

The four banks’ total performing loan portfolio at the end of June was €132 billion from €127.3 billion at the end of 2024, despite a hit in the valuation of credit to shipping companies, as it is done in dollars and the dollar has lost ground compared to the euro. 

At group level, Eurobank owns the largest performing credit portfolio (€48 billion, up from €46.3 billion at the end of 2029), of which €30.3 billion is in loans to Greek corporations and individuals; Piraeus Bank’s portfolio (€35.9 billion) focuses on domestic firms. So does Alpha’s, where loans in Greece accounted for €32.6 billion of the €34.4 billion in its overall portfolio.

Original Story: Ekathimerini | Author: Newsroom
Edition: Prime Yield

Credit ratings agency Moody’s said, on August 13th, that half-year profits announced by Alpha, National, Piraeus Bank and Eurobank are on solid ground, based on credit expansion and nonperforming loans (2.9% in June) inching closer to the European average (2.2%).

Original Story: Ekathimerini | Author: Newsroom
Edition: Prime Yield

Banks will now offer a house complete with a mortgage for it, as they proceed with the utilization of the real estate assets in their possession, thereby turning into digital estate agents of sorts.

Through the online platforms major lenders have developed, they will not only offer candidate buyers houses to buy but also a funding option for it.

Banks are also aiming at faster and simpler procedures, from applications to the disbursement of mortgages, through the online platforms developed and the cooperation with the servicers as well as specialized enterprises that undertake the processing of housing loans.

Up first in promoting realty and support was National Bank, through its Uniko online platform, in cooperation with Qquant of the Qualco group and its own platform realestateonline.gr for the assets it controls. Piraeus promotes its assets via piraeusrealty.gr along with alternative platforms such as realestate.intrum.gr and ReInvest.gr, with cooperation with Qualco on a new platform for mortgage promotion.

Eurobank’s realty platform Prosperty is cooperating with FinTHESIS for the agreement and approval of mortgages, and Alpha offers properties for sale with financing via its propertynow.gr platform.

Original Story: Ekathimnerini | Author: Evgenia Tzortzi
Edition: Prime Yield

In total, credit institutions are expected to contribute €100 million to the entity.

Greek banks are set to play a central role in creating the new entity, which is designed to manage repossessed homes while preventing evictions. This marks a significant shift in Greece’s housing policy landscape. According to recent disclosures in Parliament by the Deputy Finance Minister, the banks will participate in the scheme through either equity contributions or loans.

In total, credit institutions are expected to contribute 100 million euros to the entity. This funding will come either as direct investment, making the banks shareholders with profit expectations, or as loans, depending on negotiations with the entity. Essentially, the banks will gain a stake in properties that were once mortgage collateral, but this time they will not bear any credit risk.

How the 100 million euros is structured — whether in equity, loans, or a mix — will depend on the investment’s internal rate of return (IRR). If no third-party investors join, officials say that the banks’ funding alone could cover the purchase of up to 2,000 homes.

Not Just an Investment Scheme — A New Housing Model

This structure is more than just a financial instrument — it could represent a new model for housing policy in Greece. In this model, a homeowner at risk of foreclosure loses their home to the bank. The property is then sold to a new entity, in which the bank may be a shareholder, or the sole shareholder if no outside investors come forward. The former homeowner remains in the property, but now as a tenant, paying indirect rent back to their original lender through the new intermediary entity.

How the Leaseback Scheme Works

The Property Acquisition and Leaseback Entity, which was selected through an international tender process, will purchase homes from owners who are in significant debt and lease them back to them for 12 years in order to prevent evictions. If they recover financially, tenants can repurchase their homes, while the state will support them with monthly rent subsidies through the social welfare agency OPEKA.

Original Story: Tovima | Author: Newsroom
Edition and translation: Prime Yield

Greece’s banks reduced loans to businesses but increased overall disbursements in 2024 compared to 2023. Large businesses received the largest amounts, and also borrowed at the lowest interest rates compared to the rest.

According to data from the AnaCredit statistical database, the value of new business credit agreements amounted to 28 billion euros in 2024, slightly reduced compared to 2023.

However, the debts of non-financial corporations (NFCs) to domestic credit institutions corresponding to these agreements – that is, the value of loans not only agreed upon but also disbursed during this year – increased significantly by 61%, reaching €20.6 billion, up from €12.8 billion the previous year.

Original Story: Ekathimerini
Edition: Prime Yield|
Image by Raten-Kauf from Pixabay

Greece’s housing market is gridlocked by bureaucracy, say both banks and servicers.

Eurobank CEO points the finger back at the state, arguing that it is government-imposed conditions, particularly those tied to property legalization and digital registration, that are delaying housing sales.

Greece’s banks, loan servicers, and investment funds currently hold an estimated 25,000 properties, according to official data. Yet most of these remain unsold, prompting the government to accuse the asset managers of deliberately holding back supply in a bid to extract higher profits.

The result, officials argue, is a limited housing stock that fails to ease soaring demand—especially from abroad—driving prices even higher and making homeownership unattainable for younger households.
However, both banks and servicers strongly reject this claim.

Fokion Karavias, CEO of Eurobank, firmly counters the government’s position, stating that financial institutions have every incentive to sell these assets as quickly as possible. He points the finger back at the state, arguing that it is government-imposed conditions, particularly those tied to property legalization and digital registration, that are delaying sales.

Under current rules, properties must be fully legalized in terms of planning permissions, zoning, and other regulatory requirements before they can be transferred. Banks and servicers can acquire them as-is but can’t resell until all issues are resolved.

This regulatory bottleneck, Karavias insists, is the true cause of the limited supply on the market. He notes that legalising properties and securing digital IDs is a long and complex process, often dragging on for months or even years.

Eurobank and others have suggested allowing property sales without prior digital registration, transferring the responsibility to buyers—but the Finance Ministry has rejected the proposal. Karavias criticises the rigid stance, especially given that only a small fraction of Athens’ housing stock currently has a digital ID.

Theodore Kalantonis, head of doValue Greece, also proposed shifting responsibility for legalizing properties to buyers for a year to help ease supply pressures. He warns that lengthy red tape delays sales and that mortgage approvals now take six months—far longer than the 45 days needed before the crisis—often stalling deals.

Kalantonis warns that mounting delays risk undermining Greece’s edge in real estate, once known for fast deals. He urges the government to cut red tape, starting by letting buyers handle property legalisation and digital IDs, to ease the country’s housing crisis.

Original Story: Tovima
Edition: Prime Yield
Image by Reissaamme from Pixabay

The government would like to see the thousands of closed properties managed by servicers reopen and begin to return to the market, considering that they will constitute an important source of supply reinforcement.

The issue was discussed last May 29th  among others, by Minister of National Economy and Finance Kyriakos Pierrakakis and Bank of Greece Governor Yannis Stournaras, in a meeting at the central bank, while in the afternoon a meeting was held on the same issue at the Ministry of National Economy, under Pierrakakis, with the participation of the servicers and Bank of Greece Deputy Governor Christina Papaconstantinou.

The goal is to regulate the loans corresponding to these properties, so that they can be put back on the market not be auctioned off. A systemic solution is being sought in this direction, a source has told Kathimerini. However, the same source acknowledged that the solution will not be easy, given that it is a problem that has accumulated over the years.

In any case, the government has put housing at the center of its policy, as this has emerged as a top problem. To this end, it is attempting to bring as many as possible of the approximately 800,000 closed properties onto the market, according to the calculations of representatives of the real estate market.

For individuals who keep their properties closed, the government will move with a carrot-and-stick logic, providing incentives for owners to open their closed properties and establishing disincentives for those who insist on keeping them closed.

At their meeting, Pierrakakis and Stournaras agreed that the Savings and Investment Union, which is promoted by the European Commission, is positive and they support it.

Pierrakakis added that the barriers between European economies must be removed. “As Mario Draghi has mentioned,” the minister explained, “the barriers that exist in the service sector are equivalent to corresponding tariffs of around 110%.”

Original Story: Ekathimerini | Author: Eirini Chrysolora
Edition: Prime Yield
Image by Thomas G. from Pixabay

With a front-loaded “haircut” and new financing, the first mortgage loans that had been sold to funds are gradually returning to the banking system and are now being serviced normally.

These are loans worth some 2 billion euros, which today, after three years of consistente repayment, have “greened up” and can return to the credit system that is thirsty for new mortgages.

These loans have been regulated by the management companies with a significant debt “haircut”, which, however, will not kick in until the end of their repayment, in order to ensure that the borrower will adhere to the arrangement.

With the return of these loans to the banks, it is planned that the “haircut” will be front-loaded to the benefit of the borrowers, who will receive new financing from the bank to which they will now owe his debt. This way, they will repay their dues to the fund to which the loan has been sold, while earning the amount of te write-off that has been agreeded upon for the end of the loan repayment.

This initiative is being taken by doValue in collaboration wiith National Bank and Eurobank, as well as smaller banks, such as Attica and Optima.

Original Story: Ekathimerini | Author: Evgenia Tzortzi
Edition: Prime Yield

Following an announcement on 27 February 2025, National Bank of Greece (NBG) announced the completion of the Frontier III transaction. This involved the securitisation of a portfolio of non-performing exposures (NPEs) with a total gross book value of around €0.7 billion. This was made possible by the receipt of a State guarantee on the senior notes under the Hellenic Asset Protection Scheme (HAPS).

As part of the agreement, NBG retains 100% of the senior notes and 5% of the mezzanine and junior notes, while selling 95% of the mezzanine and junior notes to funds managed by Bracebridge LLC. Morgan Stanley & Co. International Plc acted as the financial advisor and arranger of the transaction. Clifford Chance LLP and Karatzas & Partners Law Firm provided international and local external legal counsel to NBG, respectively.

Original Story: NBG PR
Edition and translation: Prime Yield

Greece’s four systemic banking groups can now turn to defaulted loans that have been successfully regulated and are regularly repaid to increase their asset and loan portfolios.

Since the supervisory authority (SSM) has not yet given the green light for banks to directly buy back loans they have sold or securitised themselves, the secondary market is open to them in two other ways.

The first is to refinance the loans individually. In this case, the bank grants the borrower, whose debt is in a fund, a new loan to repay the original one. In this indirect way, the loan returns within the banking system, which the banks have received official information about from the authorities. The second way is to buy packages of loans that have been sold or securitised by other banks in the past. The current ban on the repurchase of restructured exposures applies only to loans originated by the bank itself, and not to loans originated by third parties.

NPL management companies have already begun preparations, categorising well-performing exposures to facilitate the creation of packages that can be returned to the banking sector. Analysts estimate that, although banks have not announced any immediate moves, we are likely to see the first transactions in this category later this year, acting as a “test” for the market. These changes will also depend on the course of general credit expansion.

According to official data from the Bank of Greece for the first quarter of 2025, credit expansion rates remained strong. The annual rate in the private sector was above 10 per cent, while corporate credit balances grew by 16 per cent per year. For households, the change in credit stabilised at -0.5%, with the prospect of turning positive. The contraction in mortgage lending was significantly limited in March to -2.4 per cent, the smallest decline in many years, thanks to an increase in new mortgage disbursements (+30 per cent in the two-month period from January to February 2025 compared to 2024).

Although banks now have new ways of bringing defaulted loans back into their portfolios, the use of the secondary market will probably depend on whether the current rate of credit expansion is sufficient to meet banks’ targets this year, although the first quarter data show a positive trend.

Original Story: Money and Life
Edition and translation: Prime Yield

The economic crisis that the country went through in the past decade casts a heavy shadow on the decisions of households over whether to resort to bank loans to buy a house. Combined with the upward trend in interest rates, it prevents a large number of potential borrowers from crossing the threshold of banks to apply for a loan.

This is confirmed by an Alpha Bank study on the housing issue in the country, according to which high interest rates and the fear of risk are the main deterrent factors for those who state that they do not intend to finance the purchase of a house with a mortgage.

Specifically, one in two respondents cites high interest rates and, as Alpha observes, “the stricter financing conditions that lead to higher debt servicing costs are the main deterrent factor for potential borrowers.”

Furthermore, 41% of respondents in this sample consider fear of risk to be a key factor in not applying for a mortgage. Fear of risk is linked to uncertainty about possible adverse events, such as future job losses or an unexpected increase in interest rates, negatively affecting households’ ability to service their debt in the future. 

As Alpha Bank observes, “it seems reasonable to assume that these concerns have increased significantly since the global financial crisis of 2008, especially in countries such as Greece, where the effects were particularly severe. This is largely due to the fact that the majority of people have experienced such events at some point in their lives. As a result, fear of risk has become embedded in the collective memory.”

These findings coincide with the banks’ findings from the course of applications for the “My Home” program, which show massive interest, with the main attraction being the cost of the loan based on a 50% interest rate subsidy. It should be noted that the final interest rate applicable to “My Home II” is determined based on Euribor and the margin applied by the bank. This margin ranges between 1.5% to 1.7% – depending on each lender’s policy. 

Original Story: Ekathimerini | Author: Evgenia Tzortzi
Edition: Prime Yield

doValue Greece has been awarded a new servicing mandate by funds managed by Fortress Investment Group, adding approximately €500 million in GBV.

“This mandate reflects the high level of costumer satisfaction achieved by doValue Greece, as well as the continued strategic value of doValue’s partnership woth Fortress”, says the statement released by the servicer group.

Additionally, this mandate marks further progress in the positive path since the start of the year, as the group reaches €7 billion GBV from new business compared to a target of €8 billion for the entire 2025 as outlined in the 2024-2026 business plan.

Original Story: doValue
Edition: Prime Yield

Despite efforts to tackle Greece’s mounting private debt – now totaling €89 billion – millions of borrowers remain off the radar, making regulation and recovery more difficult, industry leaders warned at the 10th Delphi Economic Forum.

Tasos Panousis, CEO of loan servicer doValue, revealed that while the company manages 1 million clients, it only has complete data on half of them. Without visibility, it’s harder to regulate and recover debts, he noted.

The issue spans the broader industry. Thodoris Athanasopoulos, CEO of Cepal Greece and President of the Association of Loan and Credit Claims Management Companies (EEDADP), said that out of 2.7 million debtors managed by servicers, only 57,000 have signed up on online platforms designed to give them access to their debt and credit information.

Of these 2.7 million debtors, around 600,000 are tied to a state-supported securitization scheme. Another 1.5 million are borrowers whose non-performing loans have been sold off to funds, while the remainder still have non-performing loans held directly by banks.

Panousis expressed confidence in the state-backed securitization program, noting that five out of seven loan bundles managed by doValue are exceeding expectations. The two underperforming portfolios involve around 100,000 borrowers whose settled loans were supposed to return to banks – a step that has not happened yet.

This return would boost bank revenues and help borrowers regain access to credit, he explained, urging quick action on viable debt settlements to prevent the cost from falling on taxpayers.

Currently, an estimated 700,000 properties are linked to non-performing loans. Only 13,000 of these have so far come into the ownership of loan management funds. Panousis emphasized the importance of avoiding property auctions, calling them “costly and time-consuming,” and urging instead for consensual solutions to be reached directly with borrowers.

Original Story: Ekathimerini | Author: Evgenia Tzortzi
Edition: Prime Yield
Photo: David Tip / Unsplashed

Italian bad loan manager doValue has reached 80% of its targeted increase in gross loan portfolio for the current year, and it may be able to surpass it, CEO Manuela Franchi said.

The Milan-listed company, whose shareholders include U.S. funds Elliott Investment Management, Fortress and Bain Capital Credit, announced it had secured a new contract in Cyprus to recover impaired loans worth around 350 million euros secured against nearly 1,000 properties.

The deal, which follows a 700 million euro with the National Bank of Greece, brings to 6.5 billion euros the new business the company has secured so far this year, helped by its expansion into other southern European markets, including Spain.

“We fully confirm our 2025 target of 8 billion euros in additional gross book value,” Franchi said in comments to Reuters. “If the current trend continues, we don’t rule out even surpassing it in the first part of the year.”

By shedding some 290 billion euros in soured loans since 2016 Italian banks turned the country into Europe’s biggest market for these assets. However, new flows have dried up in recent years as lenders completed their clean-up and tightened lending.

“We believe our geographical diversification will allow us to keep signing new contracts on a regular basis,” Franchi said.

The group has weathered the market slowdown thanks to selective acquisitions and a decision not to invest directly in loan portfolios, but to focus solely on managing them, she said.

Europe’s biggest loan collector Intrum, pushed to the brink by debt costs as interest rates spiked, last year filed for U.S. creditor protection as it sought to restructure its debt.

Unlike doValue, Intrum bought part of the loans it managed.

Seeking to buttress profits as the industry reorganises after the boom years, doValue last year struck a cash-and-share deal to buy Elliott-backed Gardant, a smaller domestic rival.

Cost savings through tie-ups and revenue diversification are seen as a way for the sector to shield profits.

“We look with interest at continental Europe, an area where we are not present but which may offer growth opportunities given the slowing economy and our strong track record,” Franchi said.

Original Story: Reuters
Edition: Prime Yield

DoValue has signed a new agreement with the National Bank of Greece (NBG) to act as servicer for a €0.7bn gross book value non-performing loan (NPL) portfolio to be securitised.

Under this Frontier II project, NBG has entered into a definitive agreement with funds managed by Bracebridge Capital for the sale of 95% of the mezzanine and junior notes.

DoValue Greece will act as the sole and exclusive servicer for the portfolio, which consists mainly of secured NPLs, and will also provide REO services.

The agreement is subject to the completion of the securitisation process of the portfolio by NBG under the Hellenic Asset Protection Scheme (HAPS), which is expected to be completed in the second quarter of 2025.

With this new mandate, DoValue noted that it has achieved €6.1 billion of gross book value from new business since the beginning of the year, exceeding its target of €6 billion for new mandates and reaching more than 75% of the target of total gross book value from new business for the full year 2025.

Original Story: Market Screener | Author: Reuters
Edition: Prime Yield

The nominal value of loans to the domestic private sector serviced by domestic credit servicers and transferred to non-resident specialised financial institutions increased by €3.97 billion, the Bank of Greece said. They reached a total value of 74.75 billion euros at the end of the fourth quarter of 2024.

The nominal value of serviced corporate loans increased to 25.51 billion euros in the fourth quarter of 2024, from 23.15 billion euros in the previous quarter.

Original Story: Ekathimerini
Edition: Prime Yield

Global ratings agency Moody’s has upgraded Greece’s rating to “Baa3” from “Ba1”, citing quicker-than-expected improvement in public finances and the country’s greater resilience to potential future shocks.

“Based on the government’s policy stance, institutional improvements that are bearing fruit, and a stable political environment, we expect Greece to continue to run substantial primary surpluses, which will steadily decrease its high debt burden,” Moody’s said in a statement.

Since 2020, the nation’s debt – the highest in the eurozone – has shrunk by more than 40 percentage points, reaching 154% of its gross domestic product in 2024, and is projected to drop further by the end of this year.

Greek banks are steadying and returning to profit after being nationalized following the 2009 financial meltdown caused by the country’s debt crisis, which put them in a vulnerable position, requiring several capital injections from the government.

Last week, Morningstar DBRS upgraded Greece’s credit rating to “BBB” from “BBB low”, two notches above the investment grade, citing a healthier banking sector and the continued reduction in the country’s general government debt ratio.

The agency also revised Greece’s outlook to “stable” from “positive”, reflecting a balance between persistent credit challenges that are slow to improve and the country’s institutional stability, which supports positive prospects.

Prime Minister Kyriakos Mitsotakis said in a post on the social media: “Moody’s upgrade of Greece to Baa3 marks the final step in restoring our investment grade by all major rating agencies, highlighting Greece’s significant progress. We remain fully committed to reforms that attract investment, create jobs, and drive sustainable growth.”

Original Story: Ekathimerini
Photo: Moody’s
Edition: Prime Yield