First Citizens Bank Acquires $123M Maritime Portfolio For Greece Vessels
Portfolio Pulse from Happy Mohamed
First Citizens Bank's Maritime Finance group has acquired $123 million of Greek shipping loans from HSBC Bank Plc, expanding its maritime financings for clients in Greece. The loan portfolio covers 11 financings involving 14 vessels and eight clients.
June 20, 2023 | 1:10 pm
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POSITIVE IMPACT
First Citizens Bank acquires $123M Greek shipping loans from HSBC, expanding its maritime financings for clients in Greece.
The acquisition of the $123 million Greek shipping loans from HSBC Bank Plc will expand First Citizens Bank's maritime financings for clients in Greece, one of the world's largest commercial shipping markets. This is likely to have a positive impact on the bank's business and potentially its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
HSBC Bank Plc has sold $123 million of Greek shipping loans to First Citizens Bank's Maritime Finance group.
HSBC Bank Plc has sold its $123 million Greek shipping loans to First Citizens Bank. While this transaction may not have a significant impact on HSBC's overall business, it does indicate a shift in focus or strategy for the bank. The impact on HSBC's stock price in the short term is likely to be neutral.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50