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ID:5290442
大小:1.82 MB
页数:40页
时间:2017-12-07
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1、ContentsIntroduction01Marketoverview02Viewpoint:Risksandopportunitiesin201706UnitedKingdomandIreland07Viewpoint:Banksstillneedtofacereality12GermanyandtheNetherlands13SpainandPortugal17Italy23Viewpoint:ItalyandSpainwilllead27AustriaandCEE28GreeceandCyprus32Nordics34Viewpoint:Nordeaseessl
2、owgrowthinNordicmarkets35DeloittePortfolioLeadAdvisoryServices36Contacts38Uncoveringopportunitiesin2017
3、DeloitteDeleveragingEurope2016–2017ContentsIntroductionIntroduction01TheEuropeanloanportfoliomarkethasregainedmuchofthemomentumitestablishedoverthelastnumberofyears.Uncertaintyoverthet
4、ermsofBrexitandtheUSPresidentialtransitiontemporarilydelayeddealMarketoverview02makinginmid-2016,butthefundamentalbalancesheetandregulatorydriversofloansaletransactionsprovedstronger.Sixmonthsagoweforecastasecondhalfresurgenceinloanportfoliosales;thatiswhathasViewpoint:Risksandopportunit
5、iesin201706happened,withmoretocomein2017.UnitedKingdomandIreland07BythenumberstheleadingEuropeanloansalemarketsinreachsomethingapproachingapointofTherecordrateofloandisposalsachievedin2017.Portugal,whichhasyettodeliveraequilibrium.InthemeantimeweestimateViewpoint:Banksstillneedtofacereal
6、ity122015hasbeenrepeatedagainin2016,withsignificantdealflow,islikelytoachievemorethatthereremains€2trillioninunresolvedjustover€103billionofcompleteddealsforthanthe€1.8billionofcompleteddealsinnon-coreassetsinEurope,suggestingthatGermanyandtheNetherlands13thefullyear.YettheBrexit-induced
7、mid-year2016,ifpricingbecomesmorerealistic.theloansalemarkethasthepotentialtopauseindealmakinghadanimpactontheexpandin2017.SpainandPortugal17finaldealnumbers.ThenumberofongoingDifferentmarkets,changingassetsdealsattheendof2016isconsiderable,withThesemarketswilltaketheleadfromIrelandHeadl
8、inefactsandfiguresItaly2356dealsrepresenting€70billionbyvalue.andtheUK,whicharenearingtheendofActivitybyyear(€bn)theirdeleveragingjourney.TheassetmixViewpoint:ItalyandSpainwilllead27Accordingly,weexpectthedealratetorisewillalsochange:inmarketssuchasItalyand2014€82.9€82.9i
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