Alpha Bank transfers NPL portfolio worth 3.7bln€ to distress fund
Greek systemic lender Alpha Bank on Friday completed the transfer of a portfolio containing non-performing loans (NPLs) – mostly consumer borrowing without collateral – worth 3.7 billion euros, to Ultimo Portfolio Investment (Luxembourg) S.A.
The latter is part of the investment group B2Holding.
Institutional creditors, especially the ECB, as well as the Bank of Greece (BoG) have pressed Greek authorities and thrice recapitalized systemic banks to reduce a “mountain” of debt entailed in NPLs and non-performing exposures (NPEs).
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