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20 September 2019 The on-line newspaper devoted to the world of transports 07:24 GMT+2



June 11, 2019

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Original news
Piraeus Bank yields credits deteriotated for a value of 507 million euros

The financial institution has not announced if the operation consists in the performance of the project in order to cut the NPE in the shipping

The financial institution Piraeus Bank has announced to have tight an agreement with the American Davidson Kempner Capital Management in order to yield them credits deteriotated for a value of 507 million euros, that they will be passed of hand for 240 million euros. Al 31 last March the complex of the exposures deteriotated of the Greek bank turned out pairs to about 26.0 billion euros, while the level of the credits performing era of 24,5 billion euros (in increase for the first time after the many years that are keep on the crisis Greek economic-financial institution).

The newspapers "Lloyd's List" and "Tradewinds" have specified that the cession would regard relative the deteriotated credits of the bank to the field of the shipping. If confirmed, with the operation Piraeus Bank the totality of the credits deteriotated in this segment would have brushed off almost putting into effect the project "Nemo" announced recently from the Greek bank in order to yield the exposures for means billion of euro in the segment of the shipping, project that second the forecasts would have had to be carried to term within the half of 2019.



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