Christos Megalou

Piraeus Bank concludes NPE deal with Intrum

Piraeus Bank has concluded a deal with Sweden's Intrum to create a company to service its bad-loan portfolio, it said on Wednesday.
Bad loans are the biggest challenge facing Greek banks, the legacy of a crippling debt crisis which shrank the economy and sent hundreds of thousands into unemployment, constricting the ability to repay debt.

Demand for bonds a vote of confidence in Piraeus Bank, CEO tells Kathimerini

Change in sentiment toward Greek assets and sizable investor interest reminiscent of the pre-crisis era are the takeaways from our discussion with Christos Megalou, Piraeus Bank's chief executive officer. This comes in the aftermath of the bank's access to debt capital markets for a Tier II bond issuance and the numerous investor meetings Megalou hosted in London.

Piraeus Bank bond raises 400 mln euros

Piraeus Bank secured a major capital boost on Wednesday, raising 400 million euros through a Tier II bond issue.

The interest rate amounted to 9.75 percent and the offers book, overseen by Goldman Sachs International and UBS, came to 850 million euros, as over 135 institutional investors from more than 20 countries took part in the transaction.

Piraeus Bank sets up NPL platform with Intrum

Greece's biggest lender Piraeus Bank said on Monday it had teamed up with Sweden's Intrum to set up a platform to service its 27-billion-euro bad-loan portfolio.
Soured loans are the biggest challenge facing Greek banks, the legacy of a debt crisis that shrank the economy by a quarter and drove unemployment to a high of nearly 28 percent in 2013.

Piraeus in UN-backed bank principles initiative

On Monday at the Global Roundtable in Paris, the United Nations Environment Finance Initiative (UNEP FI) and 28 banks from around the world launched the Principles for Responsible Banking for global public consultation.

Together the banks represent over $17 trillion in combined assets, and CEOs from 12 of the banks attended the launch.