Hellenic Bank is in advanced discussions with investors for the acquisition of a non-performing loan portfolio of €700 m.
According to what Antonis Rouvas, Chief Financial Officer of the Bank said during the presentation of the results of the first half of 2021, investors are looking into the portfolio and there will be a transaction in the near future.
As Mr. Rouvas said, once the sale is done, the bank’s NPL ratio will drop to a single digit percentage. Today it is 15.1% (€ 1.5 bn).
The preferred investor will also acquire the bank’s loan servicing platform, APS.
Original Source: Philenews.com
Adaptation/Summary: Kiki Athanasiadis