The country’s four systemic banks have so far sold bad loans worth 9 billion euros between them, and in 2019 National and Piraeus will be the first to make new sales, conceding four new portfolios adding up to 3 billion euros.
Alpha leads the pack in loan sales, having already completed the concession of four portfolios with a total nominal value of 3.5 billion euros. National has sold a major portfolio of 2 billion euros, Piraeus two portfolios totaling 1.8 billion and Eurobank another two packages worth 1.6 billion.
Now National will concede NPLs from small and medium-sized enterprises totaling 1.6 billion in a portfolio named “Symbol,” as well as a package of consumer loans – without collateral – worth 700 million euros. 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 million euros, 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.