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Eurobank FPS ‘sees’ an NPL market of €50 bn in Greece

There are now 18 servicers licensed by the Bank of Greece. The number is expected to double in the following years.

According to Tassos Panoussis, CEO of Eurobank FPS, there are now €20 bn NPLs outside the banking system in Greece, but with the data provided by the banks to the SSM, more than €30 bn will be securitised or sold within the next 2-3 years.

There are now 18 licensed servicers in Greece, that occupy 2000 employees and there will be more than double in the next years. As Mr. Panoussis said during a conference, the banks have a strict regulatory framework that makes it very difficult for them to service their own loans. It is much easier for the servicers.