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  1. Greek banks look to post-pandemic landscape with ongoing bad loan reductions, moratoria easing
    Photo by MacroPolis

    EconomyBanking

    Galaxy portfolio. Cairo used 2.4 billion euros of state guarantees from the Hercules APS.... Project Galaxy consists of three securitisations Orion, Galaxy II and Galaxy IV for a combined

    31%

  2. Alpha Bank reports 2.5 bln loss in 9M as it intensifies effort to clean up balance sheet
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    EconomyBanking

    ), compared to profits of 134 million euros in 9M 2020, due to booking losses from its Galaxy NPE portfolio securitisation. The Galaxy transaction had an impact of 2.14 billion euros on the bank's results.... Asset quality As a result of the Project Galaxy securitization, the stock of non-performing

    29%

  3. Eurobank submits final Cairo portfolio to Hercules while BoG mulls bad bank creation
    Photo by Panayiotis Tzamaros/Fosphotos

    EconomyBanking

    remains the sole Greek systemic bank to have taken up the scheme. Alpha Bank via its Galaxy project... on the Project Galaxy securitisation, while a second securitisation, Project Neptune, was further along... and the Bank would require to assess transactions of the size and complexity of Galaxy and Neptune

    26%

  4. Alpha Bank posts net profit of 103.7 mln in 2020
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    EconomyBanking

    for the 10.8 billion-euro Project Galaxy securitization, which Alpha Bank said it expects... coverage standing at 50 percent. The Galaxy securitision brings the ratio down to 24 percent. P&L NII... Ratio stood at 18.4 percent, which becomes 16.9 percent pro-forma for Galaxy.

    24%

  5. Alpha Bank announces 800 mln share capital increase; Q1 net loss of 282.2 mln
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    EconomyBanking

    billion-euro Project Galaxy securitization, which Alpha Bank said it expects to be completed in the second... percent. The Galaxy securitision brings the NPE ratio down to 26 percent. P&L NII came to 399.6 million.... The bank’s Total Capital Ratio stood at 18.3 percent, down 10 bps in the quarter. The Galaxy

    22%

  6. Alpha books net loss of 2.91 bln in 2021 as balance sheet clean-up intensifies
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    EconomyBanking

    increased securitisation activity. The Galaxy transaction had an impact of 2.14 billion euros..., compared to Q3. Asset quality As a result of the Project Galaxy securitisation and the conclusion... in the end of 2021, a drop from 40.6 billion in Q3. The trend reflects the deconsolidation of the Galaxy

    22%

  7. Greek banks eye positive market appetite for bad loan sales
    Photo via www.helex.com

    EconomyBanking

    to date, code-named Galaxy. This securitisation is anticipated to halve NPEs to 20 percent this year from... of the securitisations that the banks will keep on their books. The Galaxy portfolio represents

    18%

  8. Alpha Bank Q3 results reflect net profits of 43.8 mln
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    EconomyBanking

    transactions, the bank said that it had received two binding offers for the Galaxy securitisation and have... of the transaction. After the Galaxy transaction, Alpha Bank’s NPL ratio in Greece will be down to 13

    18%

  9. Banks intensify balance-sheet clean up with securitisations, new bonds
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    EconomyBanking

    -euro Galaxy Project securitisation. That securitisation entails a capital hit of about 280 basis points..., recovering a large part of the hit from Galaxy, according to Capital.gr. The bonds will have a maturity

    18%

  10. Back from the brink: What next for Greece's property market?
    Photo by Giannis Papanikos/Fosphotos

    EconomyFeatures

    news was that US investment fund Fortress was in talks to take on a 90 million euro bank loan from

    17%