{"id":17032,"date":"2018-03-21T11:02:53","date_gmt":"2018-03-21T09:02:53","guid":{"rendered":"http:\/\/bestinsurance.gr\/a1\/?p=17032"},"modified":"2018-03-21T11:02:53","modified_gmt":"2018-03-21T09:02:53","slug":"greek-banks-preparing-to-dump-bad-loans-find-a-buyer-in-sweden","status":"publish","type":"post","link":"https:\/\/bestinsurance.gr\/a1\/archives\/17032","title":{"rendered":"Greek Banks Preparing to Dump Bad Loans Find a Buyer in Sweden"},"content":{"rendered":"

Hoist Finance AB<\/a>\u00a0of Sweden is gearing up to buy non-performing credit portfolios from Greek banks as they prepare to offload loans that soured during the country\u2019s debt crisis.<\/p>\n

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\u201cThere\u2019s been a lot of talk about Greece for a long time, but now it\u2019s actually happening,” Klaus-Anders Nysteen, the chief executive officer of Hoist, said in an interview in Stockholm.<\/p>\n

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Hoist buys and restructures bad loans from Europe\u2019s biggest banks. Its markets include the U.K., Germany, Poland, France and Spain. It\u2019s spent recent years investing in Italy but is now also turning its focus to Greece, where it faces a potential goldmine. Non-performing loans make up about half of total credit in the country.<\/p>\n

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\u201cThe banks in Greece have now reached a point where they are willing and ready to divest non-performing loans and the regulation is also in place now, so it will be an effective and good market,\u201d said Nysteen, who became CEO this month.<\/p>\n

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Source: Bank of Greece data for end-Sept. 2017, including off-balance sheet items<\/p>\n

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Non-performing exposures in Greece (including off-balance sheet items) reached about 100 billion euros ($123 billion) at the end of September, or about 45 percent of total exposures, according to the Bank of Greece. Some of the highest non-performing exposure ratios are within consumer credit (53 percent) and in small and medium-sized companies (59 percent).<\/p>\n

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Non Performing<\/h3>\n

Smaller Greek firms have the highest non-performing loan ratios in the business sector<\/p>\n<\/div>\n

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The biggest challenge for the Greek banks is the loans made to small and mid-sized firms, the CEO said. Hoist \u201cwill strive to build a position as a relevant banking partner in this asset class as well as in unsecured consumer loans,\u201d he said.<\/p>\n

Greece \u201conly really has four banks relevant to buy from, so either we make it there or we don\u2019t,\u201d the CEO said. \u201cWe already have a good presence there; we put our feet on the ground there early on, so we have something to build from.”<\/p>\n

Hoist entered the Greek market in early 2016 through a strategic partnership with the central bank. The company was part of a consortium\u00a0selected to manage<\/a>\u00a0the aggregated non-performing loan portfolio of 16 Greek banks under liquidation.<\/p>\n

While the stock of non-performing loans remains high in Greece, there has been a steady reduction in recent years and the banking sector is, according to Hoist, well capitalized.<\/p>\n

\u201cI have met all the big four banks in Greece and its central bank, and the way I understand it and see it, there is no immediate need for capital injections,” Nysteen said. “But divesting non-performing loans is a way to capitalize on their non-performing loans and to strengthen their capital ratios.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Hoist Finance AB\u00a0of Sweden is gearing up to buy non-performing credit portfolios from Greek banks as they prepare to offload loans that soured during the country\u2019s debt crisis. \u201cThere\u2019s been a lot of talk about Greece for a long time, but now it\u2019s actually happening,” Klaus-Anders Nysteen, the chief executive officer of Hoist, said in<\/p>\n","protected":false},"author":1,"featured_media":12498,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[2],"tags":[],"class_list":["post-17032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-2"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/17032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/comments?post=17032"}],"version-history":[{"count":2,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/17032\/revisions"}],"predecessor-version":[{"id":17036,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/17032\/revisions\/17036"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media\/12498"}],"wp:attachment":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media?parent=17032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/categories?post=17032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/tags?post=17032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}