APS, IFC, EBRD and Balbec Capital LP invest in Piraeus Bank’s NPL portfolio

Tuesday October 23rd, 2018

Consortium of APS, IFC, EBRD, and Balbec Capital LP invest in Piraeus Bank’s NPL portfolio. Total of ca. €50 million investment to support Greek banking sector’s resilience. The investment will be made via acquisition of bonds issued by APS Delta Luxembourg. Piraeus Bank, one of the leading banking groups in Greece, will achieve a reduction of its non-performing exposure (NPLs) by a combined investment by the consortium lead by APS.

„We are dedicated to spending our time and expertise on this deal. I am convinced that this project is a perfect start for future opportunities in Greece. We are happy to be the part of the start of the systemic solutions,“ said Martin Machoň, a CEO and owner of APS.

As of June 2018, NPLs in Greece stood at €89 billion, representing 48 per cent of bank’s total exposures. NPLs are expected to decrease to €65 billion by the end of 2019 as part of the reduction plans the lenders have agreed with supervisory authorities.

“We are pleased to have the opportunity to cooperate with Piraeus Bank on such a strategic transaction. This transaction represents our first acquisition of non performing loan portfolio on the Greek market and we intend to continue building up our exposure in Greek NPLs,“ comments Viktor Levkanič, Chief Investment Officer of APS

​APS is a leading CEE/ SEE distressed debt investment advisor and manager with headquarters in Prague and staff of more than 800 professionals in 15 countries: Austria, Bulgaria, Bosnia, Croatia, Cyprus, Czech Republic, Greece, Hungary, Luxembourg, Montenegro, Poland, Romania, Serbia, Slovenia and Slovakia. APS was founded in 2004 and has acquired portfolios of distressed loans in the last 14 years in excess of €8.1bn nominal value of acquired debt.