Of Leonida Stergiou
In order to maximize the return of the Bank’s balance sheet, the National Bank has amassed a perimeter of real estate, mainly low-income assets obtained through auctions.
The return on the bank’s balance sheet is increased through their utilization, ie the creation of small value portfolios, which will then be sold to investment funds.
Already, according to information, the first group of such properties has been identified and has been included in a portfolio worth 100 million euros, which will go through a bidding process until the end of February, in order to emerge as the preferred investor.
At the same time, the National Bank has developed the electronic platform www.realestateonline.gr, through which the visitor can search for properties at auctions, while the possibility of a loan of up to 75% of the sale price is provided, something that can be made easier for customer of Ethniki’s electronic banking, ie to have codes for i-bank.
However, this move by the National Bank is not part of the real estate development plans under the projects of Eurobank, Alpha Bank and Piraeus Bank.
Eurobank
Eurobank has already created a portfolio of 6,000 properties worth 2.5 billion euros, with yields of more than 7% per year). In the nine months, real estate investments brought in profits of 29 million euros, which correspond to 10% of the Group’s total profitability. Eurobank develops the electronic platform www.findyourproperty.gr
Alpha Bank
Alpha Bank is advancing the Skyline project, creating a joint venture, through its listed subsidiary Alpha Urban Real Estate and a third party investor. According to information, the emergence of the preferred investor will occur in late February to early March. At the same time, it has already launched the website www.propertynow.gr for the search and acquisition of real estate.
Piraeus Bank
Piraeus Bank is advancing the Terra project, which includes the utilization of a portfolio of real estate that has come into its ownership through purchases, auctions, private use and change of use, etc.
In the first phase, a part of its real estate portfolio is estimated to be utilized, which is estimated at around 1 billion euros. Piraeus Bank operates two platforms. The first is located at www.pbre.gr and the second at www.properties4sale.gr.
Read also:
P. Mylonas (NBG): Strong profitability in 2021, higher in 2022
Eurobank: Investments of 300 million euros in real estate in three years
The suitors for partnership with Alpha Bank in real estate
How Piraeus Bank will use 3 billion euros in real estate
Source: Capital
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