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BCP Sells Loans Worth €119MM Along With 1,054 Properties

15 May 2019 – Richard D. K. Turner

According to an article in the Jornal Econômico, the Portuguese commercial bank BCP sold 119 million euros in loans, almost 70% of which are classed as non-performing, including loans and guarantees in the first quarter of 2019. The bank’s non-performing exposure (NPE) fell by €360 million in the quarter, stemming from portfolio sales, net outflows and write-downs worth 77 million euros.

The bank also announced that it had sold 1,000 properties for a total of 149 million euros. After impairments, the properties rwere valued at 124 million euros on the bank’s balance sheet, giving BCP revenues of €25 million.

Original Story: Jornal Econômico – Maria Teixeira Alves and António Vasconcelos Moreira