Last Wednesday, 29th of May, Hipoges participated in the 5th International NPL Greece 2024 in Antennas, organised by SmithNovak. This annual event was held at the prestigious Divani Caravel Hotel in the Greek capital.
On this occasion, Hipoges participated as Block Sponsor of the event, and different key people of the company attended, among them were Hugo Velez, Managing Partner & Co-CEO, Luigi Izzo Chief Business Development Officer, Nikitas Zisimos, CEO of Alsvit, and George Generalis, Board Member of Hipoges in Greece, were present as delegates of the event. In addition, our Chief Services Officer Margarida Maia had the opportunity to participate in an enriching panel discussing the main developments of the NPL market in Greece.
How was the new edition of NPL Greece 2024?
During this 5th edition of NPL Greece 2024 organised by SmithNovak, a total of 5 panels took place, where industry experts were able to share their views on different areas of the NPL market. The panels were:
1. First panel: Market News
With different opinions, the precedents of the Greek NPL market and the possible successes of its future were discussed. But, although banks have gotten rid of bad loans, smaller lenders still need help. In this regard, they questioned whether there will be an appetite for smaller, niche portfolios.
On the other hand, the situation of large servicers with a large volume of NPLs and the behaviour of the secondary market was also raised.
2. Second panel: The seller’s point of view
In this second panel of the event and through the seller’s point of view, the challenges of both the primary and secondary markets were put on the table. They discussed the key challenges, how to arrange NPLs to satisfy investor appetite and the potential obstacles they may encounter in the sales process.
The secondary market was a major topic of this panel, with more specialised lending becoming more important, especially for specialised investors. Even so, it does not exempt them from various challenges they will encounter during the sale process.
3. Third panel: Real Estate
In Greece where large volumes of distressed RE and REOs are being managed, the key characteristics of these assets were raised, as well as the types of results and solutions that are being achieved.
Moreover, this large volume, partly managed by large servicers, makes them deal with collateral, facing different challenges and obstacles. However, thanks to technological developments, more and more digital solutions are becoming available to improve the process of valuation, management, recovery and sale of distressed real estate assets.
After this third debate, the event attendees had some time to rest, have lunch and continue with enriching networking session.
4. Fourth panel: Case Studies
This fourth part of the event unfolded in a different way, with up to three case studies being presented in a context where the era of NPL management is understood to be technology-assisted, but guided by regulations. The case studies were:
- Fireside Chat: Mega Servicers – Nesxt challenges
- Presentation: Artificial Intelligence a turning point in the NPL market.
- Informal conversations: Regulatory challenges, a debate with the Ministry of Finance.
5. Fith and last panel: Buyer’s point of view
With this different viewpoint to the one presented above, they discussed the opportunities and challenges that the market will present over the next 12 months both locally and globally, and in both the primary and secondary markets.
They also questioned the trading structures that have become prevalent in the Greek market, as well as the lack of deal flow across Europe that has forced investors to be more cautious and selective.
For Hipoges, attending these events is both fundamental and enriching. Through these events, professionals with expertise in the NPL and real estate sector can share their views and further strengthen their networking.