National, Piraeus, Alpha and Eurobank, Greece’s four systemic banks, want to speed up the sale of NPL portfolios in 2019. So far, between them, these banks have sold bad loans with a gross book value (GBV) of €9bn. A value that should be largely surpassed in 2019.
National and Piraeus will be the first to make new sales in 2019, conceding four new portfoliosadding up to €3 bn.
Alpha leads the pack in loan sales, having already completed the concession of four portfolios with a total nominal value of €3.5 bn. National has sold a major portfolio of €2 bn, Piraeus two portfolios totaling €1.8 bn and Eurobank another two packages worth €1.6 bn.
Now National will concede NPLs from small and medium-sized enterprises totaling €1.6 bn in the portfolio “Symbol,” as well as a package of consumer loans – without collateral – worth €700 Mn. Both sales are expected to be completed within the first half of the year.
Piraeus will also put up for grabs a package of consumer loans without collateral with a nominal value of €400 Mn, named “Iris,” along with a portfolio of a similar size containing shipping loans and named “Nemo.”
Interest from international investors appears to be strong, as reflected by the prices achieved during previous sales and by the entry of strong players in the Greek market.
Original Story: Ekathimerini | Evgenia Tzortzi
Photo: FreeImages.com/Takis Kolokotronis
Edition: Prime Yield
