At a price of 53% on its book value, Piraeus Bank reached an agreement with Davidson Kempner for the sale of a portfolio of non-performing maritime exposures (NPAs).
These are loans amounting to 400 million euros, for which Piraeus Bank will receive 212 million euros and will reduce the MEA index to 15% from 16% on 30/9/2021.
At the same time, it increases the coverage ratio of red loans on the balance sheet to about 40% from 39% previously.
The expected capital effect from the transaction is around – 20 base points on the total capital adequacy ratio of Piraeus Financial Holdings on September 30, 2021.
Taking into account the signed transactions Mayfair (announced on 20/12) and Sunrise II (27/12), the total capital adequacy ratio of the bank will be strengthened by more than 100 base points in relation to the index at the end of the third quarter of last year.
This does not include the organic capital production of the 4th quarter of 2021 and the expected impact of the Thalis transaction (separation of the activity of card acceptance services), which is expected to be completed within the 1st Quarter of 2022.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
e-EFKA: “Thaleia” Answers Policyholders’ Questions
It is a service provided by the organization, aimed at enhancing the experience for individuals with special needs.
PM Mitsotakis Outlines 2025 Goals for Growth and National Interests
"The government’s work will remain intense and multifaceted, so that day by day, something changes and the lives of all citizens become better," the prime minister stated
Tender for Repairs on Athens Olympic Stadium’s (OAKA) Iconic Roof
Tender for OAKA project, which is expected to exceed 78 million euros, stipulates that repairs, maintenance must be conducted while venue remains open for events
Louis-Dreyfus Family Eyes 21% Stake in Thessaloniki Port
The newly created Amsterdam-based LeonidsPort company has submitted a voluntary public offer for 21%
EUIPO Throws Out Turkaegean Trademark
The trademark had been filed by the Türkiye Tourism Promotion and Development Agency (TGA) in 2021 and immediately generated heated opposition by Athens
Economic Sentiment Indicator in Greece Drops Slightly in Dec.
The data revealed that the primary drivers of the slight drop were the industrial and retail trade sectors. Conversely, construction and consumer confidence improved.
Greece’s Trade Deficit Surges by 18.7% in Nov. 2024
For the first 11 months of 2024, the total value of imports reached 77.3793 billion euros, a 1.9% rise compared to 75.9482 billion euros in the same period of 2023.
Installing EV Chargers in Your Building is Harder than You Think
So, you just bought an EV in Greece and can’t wait to set up a charger in your apartment building’s parking space? Not so fast—there are a few hurdles you’ll need to clear first.
Greece Announces Grants to Unemployed for New SMEs
Unemployed individuals seeking 12-month grants to fund the creation of new SMEs can apply online until January 21.
Port of Piraeus Reports Record-breaking Year for Cruise Sector
First cruise ship of the season, Viking Saturn, greeted at Greece's largest, busiest port
