Reports: Distress funds buying up Greek consumer NPL at up to 90% discount

Tuesday, 16 Apr 2019 10:45 UPD: 10:48

By E. Sakellari
[email protected]

Distress funds that have purchased portfolios of "bad debt" from Greek banks have already begun managing the NPLs, with most of the former saying they are interested in purchasing more such portfolios.

Upcoming sales include blocks of business loans with and without guarantees, shipping-related loans, and, as widely expected, non-performing mortgages, which attract the biggest interest by investors.

At present, most portfolios are separated into two categories, the first being   business loans with guarantees, and the second consumer loans and business borrowing without guarantees.

Non-performing consumer loans without guarantees are now attracting the biggest interest by distress funds, with the "haircut" offered in some cases reaching 90 percent.

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