"I welcome that with the Greek government we have a found a market conform solution to tackle the stock of non-performing loans weighing on the balance sheets of Greek banks. The scheme we approved today is another good example of how Member States can help banks clean up their balance sheets without granting aid or distorting competition."
- October 2019, Commissioner Margrethe Vestager, European Commissioner for Competition
IMN's 3rd Annual Investors' Conference on Greek and Cypriot NPLs: Establishing a Secondary Market, will return to Athens, Greece on 12 March 2020. The event is well timed to address recent developments that include a new political regime in Greece, and the approval of an asset protection scheme that will promote securitisation as a major part of the overall NPL reduction strategy. We anticipate this event to grow in size and scope as the need for an event that brings together investors and sellers is more urgent than ever. As the organizers of the largest securitisation industry conferences in the U.S., Europe and Asia, we are uniquely positioned to deliver a global ABS and NPL investor audience.
After two successful gatherings, which attracted more than 300 attendees each, IMN once again looks forward to bringing together the executive teams from the four systemically important Greek banks and the largest Cypriot NPL sellers, as well as major global private equity and ABS investors. Although much progress has been made, Greek NPL volume remains the highest in the Eurozone at 75 billion Euros, or 39.2% of outstanding debt. This event will explore the potential beneficial impacts of the Hercules Asset Protection scheme, the pro-business and structural reforms government, the effect of a strong fiscal surplus and 2+% GDP growth, a potential country ratings upgrade, and strengthening consumer confidence. It will also compare the Cypriot government’s model for NPL resolution, and whether any strategies may also be applied to the Greek portfolio.
Continuing to foster an environment conducive to NPL resolution will require the participation of regulators, servicers, rating agencies and other key participants who together with the bank sellers and investors will facilitate the establishment of a robust secondary market. They will be joined by experts in bankruptcy and insolvency counseling, capital markets advisory, and investment banking teams who are working on creative capital markets solutions for restoring bank balance sheets to health.
Join us on 12 March 2020 for a conference that will serve historical purpose restoring Greek and Cypriot bank balance sheets to health, and boost bank lending to the SME, shipping, and consumer finance sectors in order to stimulate economic growth.
Who Should Attend
- Banks in Greece or Cyprus looking to re-capitalise
- Private funds looking to invest in NPLs
- Legal counsel
- Rating agencies
- Banks facilitating NPL transactions