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  1. Alpha Bank posts net loss of 2.04 bln in Q2 after booking Galaxy Project securitization
    Photo by MacroPolis

    EconomyBanking

    to a loss of 282.2 million euros in Q1, after booking losses from its Galaxy NPE portfolio securitization. The Galaxy transaction had a 2.1 billion-euro impact on the bank's earnings. On an aggregate... of the Project Galaxy securitization, the stock of non-performing exposures (NPE) in Greece fell to 8.81

    100%

  2. Alpha Bank enters agreement with Davidson Kempner for 10.8 bln Galaxy securitisation
    Photo by MacroPolis

    EconomyBanking

    percent of the junior and mezzanine notes in Project Galaxy -- a securitisation of 10.8 billion euros... Asset Protection Scheme. Upon Galaxy’s completion -- which the bank expects will happen in the second... percent and 29 percent in September 2020, according to the statement. Galaxy’s effect on Alpha’s

    94%

  3. Alpha seals bad loans sale deal, lenders brace for NPE management in Covid-19 era
    Bank of Greece

    EconomyBanking

    portfolio securitisation, Project Galaxy. This portfolio represents one of the largest securitisations... Investor DAC, an entity financed by funds managed by affiliates of Fortress Investment Group LLC

    57%

  4. Piraeus completes Sunrise II securitisation as banks stay focused on NPE reduction
    Photo by MacroPolis

    EconomyBanking

    projects of 10 billion euros comes on top of the major securitisation of Galaxy by Alpha Bank, worth... the Frontier securitisation after entering talks with a consortium of Fortress, Bain Capital

    54%

  5. Banks wrap up balance sheet transactions for 2021 on path to slashing NPEs

    EconomyBanking

    euros, by Piraeus on top of the major securitisation of Galaxy by Alpha Bank, worth 10.8 billion euros... on Cosmos on October 22 and NBG was in definitive agreement with Bain Capital, Fortress and DoValue

    54%

  6. Banks step up securitisation drive following pandemic interruption

    EconomyBanking

    for inclusion in the Hercules APS for its NPE securitisation named Galaxy, which was announced in November last year. Project Galaxy consists of three securitisations Orion, Galaxy II and Galaxy IV... for the 1.9 billion euros of Orion and the 5.7 billion euros of Galaxy II, the submission for Galaxy IV

    33%

  7. Eurobank first to tackle NPL reduction via APS
    Photo by MacroPolis

    EconomyBanking

    the bids submitted by Pimco and doValue on behalf of Fortress for 80 percent of Eurobank’s licensed... on the website euro2day.gr on Tuesday afternoon, the doValue-Fortress bid was considered a stronger bid... Fortress earlier in November. The bank had previously been in exclusive negotiations with PIMCO until

    29%

  8. Hercules nears end of its first cycle with National Bank's participation
    National Bank

    EconomyBanking

    its Galaxy portfolio. Cairo used 2.4 billion euros of state guarantees from the APS and consisted.... Project Galaxy consists of three securitisations Orion, Galaxy II and Galaxy IV for a combined value... Bank’s Project Galaxy. Hercules II is seen running to December 2022 and will offer 12 billion euros

    28%

  9. Newsletter 283 -05/02/2021

    Newsletters

    portfolio, followed by Alpha Bank submitting its Galaxy portfolio. Cairo used 2.4 billion euros... and the minimum requirement for the junior notes. Project Galaxy consists of three securitisations Orion, Galaxy II and Galaxy IV for a combined value of 10.8 billion euros. Piraeus Bank followed with its

    28%

  10. Alpha Bank posts net profits of 97.1 mln in 2019
    Photo by MacroPolis

    EconomyBanking

    on the progress of two large NPE portfolio sales - Project Neptune and Project Galaxy. The Project Neptune... value of approximately 1.8 billion euros. The Project Galaxy portfolio represents one of the largest... conditions had been impacted. Work was continuing on the Project Galaxy securitisation, while Project

    25%