GERMAN-based global financier KfW IPEX-Bank is increasing its focus on the Greek shipping market and has appointed independent financial adviser Eurofin to act as its consultant. Eurofin will assist KfW IPEX-Bank through its Athens based office in developing a high quality Greek shipping loan portfolio by providing the bank with ongoing market intelligence on the Greek shipping market, introducing Greek owners to the bank, providing regular updates on the activities of potential Greek clients and identifying ship financing opportunities for the bank.
Dr. Uwe-Carsten Wiebers, head of shipping for KfW IPEX-Bank, says, "Currently we are the fifth largest shipping bank in the world, with a portfolio of around Euro14.5 bn, and have already some excellent Greek clients. We are ready to extend our portfolio in the Greek market and we hope that Eurofin will play a key role as our adviser in helping us to understand the market in detail and ensure our funds are put to good use and in safe hands."
Anthony Zolotas, CEO of Eurofin, says, "There are some very good and sound opportunities for banks in the Greek shipping market, which is stronger than it has ever been. But especially after a long shipping boom, and with the world finance system in the grip of a credit crunch, good banks such as KfW IPEX-Bank have to be selective. We can use our long experience and deep knowledge of the Greek shipowners worldwide to help them build a significant position in the world's largest shipping market, with substantial clients and solid projects."