Greek systemic lender Alpha Bank on Tuesday announced that it has concluded a binding agreement with Hoist Finance AB to sell a non-performing loans portfolio with a book value of 1.3 billion euros.
The “Orbit” portfolio comprises unsecured non-performing retail sector loans, with the sale expected to be concluded in the first quarter of 2022, the ATHEX-listed bank announced.
“The transaction has been agreed to at 108 million euros or 7.4 percent of total unpaid principal balance,” the bank stated.
The transaction is the third after the securitization of the “Galaxy” and “Cosmos” portfolios.
Once concluded, the transaction is projected to slice Alpha Bank’s NPEs by 2.3 percentage points.
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