BANKS

ENGLISH EDITION

Alpha Bank unveils biggest securitization of NPEs in Europe

Alpha Bank on Tuesday unveiled one the biggest securitization plans of non-performing exposures (NPEs) in the European market as part of a strategic plan towards a faster restructuring of its balance sheet.

20 Νοε 2019 07:30

ENGLISH EDITION

Bank of Greece plan to cover 60 pct of Greek bank NPLs, governor Stournaras says in Thessaloniki

The Bank of Greece will activate a plan to resolve the 60 pct of nonperforming loans (NPLs) not covered by the "Hercules" plan proposed by the government, bank governor Yannis Stournaras revealed while speaking at the Thessaloniki Summit 2019 on Friday evening.

16 Νοε 2019 12:39

ENGLISH EDITION

As Hercules bad loan plan delays, Greece loses another year

Completion of the Hercules plan, a proposal being put together by the Greek government to help banks offload nonperforming loans, has been pushed back to 2020, in a development that is also delaying other initiatives by banks to improve their balance sheets. Due to uncertainty stemming from the Hercules proposal, Greek lenders are unable to complete steps they have already announced and prepared 12 months ago, such as the Eurobank - Pimco deal.

11 Νοε 2019 11:50

ENGLISH EDITION

Bank raid from competition watchdog adopts PR tactics

In a very well-coordinated operation tens of officials from the Competition Committee raided the head offices of Greece's four systemic banks - Eurobank, Alpha Bank, National Bank and Piraeus Bank - and the Hellenic Bank Association. The Competition Committee did not inform the banks about the reason behind the operation.

08 Νοε 2019 12:53

ENGLISH EDITION

Doubts and delays on Hercules plan overshadow bank gains

Although the Hercules proposal has been by cleared by DG Comp, the ECB's Single Supervisory Mechanism (SSM) has raised a series of objections on it, with the most important one being that it cannot place a zero risk weighting on securitizations backed by a state that does not have an investment credit grade.

04 Νοε 2019 10:45

ENGLISH EDITION

Intrum sees a long-term investment in Greece, CEO says

Intrum aims for a long-term investment in Greece, Mikael Ericson the company's CEO said on Friday. Speaking to reporters in Athens, Ericson expressed his satisfaction over the quality of the human resources and of the management team of Intrum in Greece and noted that the aim of Intrum Hellas was the offer long-term and sustainable repayment solutions to Piraeus Bank's debtors, while it also aspires to take over the management of third-party portfolios in the future.

02 Νοε 2019 12:22

ENGLISH EDITION

The big step to help Greek banks avoid pitfalls of uncertainty

Greek bank shares are returning to levels not seen since the sector's third round of recapitalizations took place in 2015, while 2020 looks like it will be the year when big improvements to their balance sheets are seen. Bank shares may be back at the forefront this year, rising 100 percent on an annual basis, but they continue to trade at prices below rights issues completed in 2015 as part of the third recapitalization plan.

31 Οκτ 2019 14:22

ENGLISH EDITION

Mitsotakis to meet bankers on transaction fees

The recent bank charges that have been imposed on most transactions are expected to be discussed, among other things, in a meeting on today between the heads of the country’s biggest banks and Prime Minister Kyriakos Mitsotakis.

24 Οκτ 2019 09:44

ENGLISH EDITION

Hercules plan changes in rush to meet crucial conditions

Talks are continuing on ways to improve a plan being put together by Greece to help banks reduce bad loans, called the Hercules proposal, in a bid to prevent it from being a lost opportunity for the country and its financial system.

21 Οκτ 2019 11:26

ENGLISH EDITION

Alpha Bank announces agreement with doValue

Alpha Bank announces that, following an international competitive bidding process, it has entered into a multi-year agreement with doValue S.p.A. (“doValue Group” or “doValue”) for the servicing of a portfolio originated in Cyprus and comprising Non-Performing Exposures (NPEs) and Real Estate Owned (REO) assets, with a Gross Book Value of approximately Euro 3.2 billion.

14 Οκτ 2019 20:20

ENGLISH EDITION

Greek bankers cautious on Hercules plan; ECB stance crucial

Bank officials remain cautious about a plan Greece is working on aimed at reducing bad loans held by lenders that was approved by the European Commission last week. Although the scheme, called Hercules, was given the green light in Brussels just a few days ago, some in the industry are already talking about the need for a Hercules II plan, citing concerns about the initial proposal's ability to solve the bad loan problem faced by the financial system.

14 Οκτ 2019 10:37

ENGLISH EDITION

Commission approves market conform asset protection scheme for banks in Greece

The European Commission has found Greek plans aimed at supporting the reduction of non-performing loans of Greek banks to be free of any State aid. The Commission found that, under the asset protection scheme (known by the name of “Hercules”), the Greek State will be remunerated in line with market conditions for the risk it will assume by granting a guarantee on securitised non-performing loans.

10 Οκτ 2019 11:38