I previously disclosed that I have a considerable, long position in the Greek bank Eurobank Ergasias (OTCPK:EGFEY). This is an update on the bank’s strategy to reduce its bad loan exposure and improve its profitability.
Actually, Eurobank just released more information on the recent developments in its securitization plan.
Overall, everything is going as planned:
Source: Company’s presentation – Q3/19
The Greek bank closed a deal with the Italian firm doValue S.p.A. (MILAN:DOV) for the sale of a portion of its Cairo securitization and 80% of FPS, the company that Eurobank created in