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EY: Greek NPLs market intriguing for foreign investors

05 December 17 - RE+D Magazine
EY: Greek NPLs market intriguing for foreign investors

COMPANIES

IBI Group

Consultant - GREECE

ETAD.A.E.

Public entity - GREECE

Savills

Consultant - GREECE

Solum Property Solutions

Consultant - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
Non-performing loans market has developed significantly since 2012 in the UK, Germany, Portugal, Spain and Italy, while Greece has made its first steps this year, Ajay Rawal, an Ernst & Young official said on Tuesday.

 

Addressing a conference organised by the American-Hellenic Chamber, Rawal said that a digital platform for the sale of NPLs would be available soon and predicted that Greek banks would sell NPLs worth around 50 billion euros from their current portfolio of 100 billion euros.

He also added that there will be digital developments on the issue of e-auctions, although he said that changes were made slowly. He added that interest in the Greek NPLs market was very big.

Stephanos Mytilineos, deputy general manager of digital business in Piraeus Bank, addressing the conference, said that the bank's customers performing transactions through Internet Banking had exceeded those who visited the bank's branches for the first time ever.

He also presented a series of solutions offered by the bank to persons with special needs.

Nelly Tzakou-Lambropoulou, a National Bank's official, presented the bank's initiatives to support innovation and noted that the bank will introduce crowdfunding operations from 2018.

Nicholas Jennet, deputy managing director of European Investment Bank, said that EIB's exposure in Greece reached 17 billion euros and expressed the wish that Greece could operate as a competitor to London as an innovation development zone in Southeastern Europe on financial technology.

Paolo Sironi, a member of IBM's science academy, said compressing bank's profit margins was leading to loss of job positions and lower wages in the banking sector.

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