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
Economist: Greece Included in the Best Performing Economies in 2024
Meanwhile, Northern European countries disappoint, with sluggish performances from the United Kingdom and Germany.
EasyJet Expands Its Routes from Athens
The airline’s two new routes will be to London Luton and Alicante and they will commence in summer 2025.
Capital Link Forum Highlights Greece’s Economic Resurgence; Honors BoG Gov Stournaras
Capital Link Hellenic Leadership Award recipient, Bank of Greece Gov. Yannis Stournaras, an ex-FinMin, was lauded for his pivotal role during Greece’s economic recovery
Tourist Spending in Greece Up by 14%, Visa Card Analysis Shows
Greece’s capital Athens emerged as the most popular destination, recording a 17% increase in transactions with Visa cards, surpassing even the cosmopolitan island of Mykonos.
Inflation in Greece Unchanged at 2.4% in Nov. 2024
The general consumer price index (CPI) posted a 0.4% decrease in November compared to the previous month
2024 Christmas Holidays: Extended Shop Hours Schedule
The 2024 Christmas Holidays extended shop hours schedule commences on Thursday, December 12 and runs until the end of the year.
ELSTAT: Seasonally Adjusted Unemployment Down in October
The number of employed individuals reached 4,284,694, an increase of 67,723 compared to October 2023 (+1.6%) and 22,002 compared to September 2024 (+0.5%).
Greek PM’s Chief Economic Adviser Resigns
In the post on his Facebook page, Patelis did not disclose the reasons that led him to step down.
“Masdar Invests in the people of Greece and in the vision of TERNA ENERGY”
Four messages from the CEO of Masdar, the Arab renewable energy giant, after its acquisition of 70% of TERNA ENERGY
Lloyd’s List Greek Shipping Awards 2024: Honors for leading companies and personalities in the Greek shipping sector
20 awards presented at the 21st annual Lloyd's List Greek Shipping Awards
![Χειμερινή εξοχική κατοικία: Οι Ελληνες γυρνούν την πλάτη παρά την πτώση των τιμών [γραφήματα]](https://www.ot.gr/wp-content/uploads/2024/12/Capture-19-90x90.jpg)
