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Bank of Greece appoints special liquidator for NPL portfolio management

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Bank of Greece appoints special liquidator for NPL portfolio management

The Bank ofGreece SA said April 4 that it appointed PQH Single SpecialLiquidation SA to manage Greek bank assets under special liquidation.

Nearly all of the roughly €9 billion of assets are nonperformingloans.

The 16 resolved Greek banks include Agricultural Bank ofGreece SA, TT Hellenic PostbankSA., Proton BankSA, Probank SA, First Business Bank SA, , AchaikiCooperative Bank Ltd., Cooperative Bank of Lamia Ltd. and Cooperative Bank ofLesvos-Limnos Ltd.

Other banks in the country coming under special liquidationare Cooperative Bank of Dodecanese Ltd., Cooperative Bank of Evia Ltd.,Cooperative Bank of Western Macedonia Ltd., Cooperative Bank of PeloponneseLtd., T-Bank SA, Bank of Crete SA and ATE LEASING SA.

The central bank said it decided to replace the previousliquidators with a special liquidator to ensure that the institutions underspecial liquidation are unified operationally, even though each institutionremains a legally independent liquidation entity with the legal status of itscreditors unaffected.

Meanwhile, Hoist Finance AB (publ) announced April 5 that itentered into a strategic partnership as part of the that has been selected via acentral bank tender process initiated to manage the aggregated NPL portfolio.

PQH Single Special Liquidation SA is jointly owned by Hoist,Qualco SA and PwC Business Solutions SA.