Transaction / Assetscredit portfolio in Spain SellerBBVA BuyerCanada Pension Plan Investment Board / Anfora Investing U.K. Limited Partnership € MM
BBVA Finalises Transfer of Most of its Anfora Portfolio
28 June 2019
BBVA has closed the transfer of most of the credits rights that comprise the Anfora portfolio. The transaction was announced in December 2018.
At the end of 2018, BBVA reached an agreement with Canada Pension Plan Investment Board (CPPIB), to transfer a credit portfolio in Spain, which was composed by mortgages credits (mainly non-performing and in default).
Today the great majority of the loans in this portfolio (with a gross value of about €1.2 billion) were transferred to Anfora Investing U.K. Limited Partnership, which is owned by the Canada Pension Plan Investment Board. The transfer of the small amount of credits that remain in the Anfora portfolio (with a gross value of approximately €130 million) is expected for Q3-19.
BBVA expects the transaction to have a positive impact on the Group’s net attributable profit of approximately €130 million, which will be reported in Q2-19 financial results. In addition, it is also expected to have a slightly positive impact on the fully-loaded CET1 ratio.