(Visited 661 times, 3 visits today)
(Visited 661 times, 3 visits today)

Project Solar, doBank wants all the NPLs of Greece

22 December, Citywire

DoBank aims ta the bad loans of the four main Greek banks: Eurobank, National Bank of Greece, Piraeus Bank and Alpha Bank.

The operation is called “project Solar” and sees the creation of a platform for the management of credits towards SMEs.

DoBank, a Fortress subsidiary guided by Andrea Mangoni, is initially aiming at a 2 billion euro portfolio, but they may reach 5 billion, leveraging the request from the ECB to the Greek banks to get rid of debt.

In fact, the Greek banking system has undergone a deep transformation, with the number of banks gone from 15 to 4 (through 11 different mergers), the cut by one-fifth of their staff and by one-third of the branches. The first profits were already registered in 2016.

In January we’ll know whether the Project Solar may start.

Source: Citywire

Translator: Cristina Ambrosi

(Visited 661 times, 3 visits today)

Read more:
Algebris, the NPL II fund will requalify the Grand Hotel et Palmes in Palermo

12 February, Advisor Private Algebris NPL II, the fund of the asset management company Algebris Investments, will launch in February...