Transaction / Assets NPL portfolioSeller Banca PatavinaBuyer Hoist Finance€ MM 150
Banca Patavina selling an NPL portfolio for 150 million to Hoist Finance
12 October, Reuters
Bcc Banca Patavina presented its plan concerning the transfer of an NPL portfolio for 150 million euro to the Swedish company specialised in non-performing loan management Hoist Finance.
The operation was presented during a press conference.
By the end of the year, the Veneto bank from will have loans for 20 million on its accounts which will be managed in-house.
The operation will allow Banca Patavina to bring the Cet1 from 14% to 13%.
Moreover, the bank confirmed the acquisition of other six branches from Banca Sviluppo, and the former Bcc Euganea and CrediVeneto.
Banca Patavina closed the first semester with net profits equal to 2.5 million euro. The management is optimistic regarding the second part of the year.
Source: Reuters
Translator: Cristina Ambrosi