National Bank of Greece Seeks Better Bids Before Selling Loans
- Lender’s CEO Leonidas Fragkiadakis speaks in interview
- Bank to repay more than 2 billion euros of state aid this year
This article is for subscribers only.
National Bank of Greece SA, the country’s oldest lender, will only consider selling batches of bad loans to distressed debt managers once country risk recedes and bids improve, Chief Executive Officer Leonidas Fragkiadakis said.
“We are actively talking to people. As of now there is no closing-in of agreements I can report,” Fragkiadakis said in the interview from the lender’s headquarters in Athens. “The way risk premia are in Greece right now, and the internal rate of return that the outside managers are seeking, credibly from their part, might imply not so attractive prices for us to disengage.”