We believe Cypriot Banks hold a message for their Greek peers:…contact@researchgreece.com
In this report we include: 1) NPE reduction targets per bank; 2) Exercise showing Year 1 post securitizations announced; 3) Exercise showing Year 2 total clean-up of what NPEs are left…contact@researchgreece.com
We use TBV of c. E5.2bn (2020E); c. 10% RoTE implies net income of E450m-E500m; reconciling this number requires…contact@researchgreece.com
We worked the numbers to reconcile 2022 guidance…contact@researchgreece.com
While trying to reconcile 2022 NPE/RoTE targets, our reflex reaction on the investment case is that…contact@researchgreece.com