CEISS Sells a €485 Mn NPL Portfolio

19/09/2014 – Expansion

Banco de Caja España de Inversiones, Salamanca y Soria (one of Spains savings banks abbreviated to CEISS) has marketed a 100%-provisioned, non-performing loan portfolio for €485 million.

The transaction has been advised by KPMG Corporate Finance and KPMG Abogados (Lawyers – translators note). It allows CEISS to cut in default rate by the aforementioned amount. Still, its REO portfolio contains 36.500 loans to individuals and small/medium-size companies.

With the sale, Banco CEISS takes the next step in its Strategic Plan assuming divestment in all non-core assets.

 

Original article: Expansión (after E. P.)

Translation: AURA REE

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