November 16th, 2017

Eurobank sells 1.5bil€ consumer unsecured NPL portfolio

Eurobank Ergasias announced the sale of 1.5bil€ consumer unsecured NPL portfolio to Intrum Group.

The sale was completed on November 13th following the October 5th agreement with Intrum Hellas DAC. Eurobank subsidiary Financial Services SA licenced by the Bank of Greece shall undertake the servicing of this NPL portofolio, which includes over 120 thousand mostly written-off retail loans.

In the meantime, PQH special liquidator is seeking to sell bad bank leasing receivables with nominal value of approx. €300 million in a process started last September.

NBG and Piraeus Bank are also contemplating NPL portfolio sales as SSM and ECB increase pressure on Greek banks to deleverage and reduce total NPE exposures exceeding €100billion at the beginning of this year.

Initial transactions are likely to involve unsecured retail/SBL exposures, while of particular interest to private equity investors are Corporate & SME NPL portfolios and single assets esp. in the commercial real estate and hospitality sectors.

Sigma Catalyst Partners

5 Valaoritou Str. Athens - Chalandri 15232 - GREECE
Tel.: +30 210 68 52 411, Fax: 211 017 33 88
office[at]sigmacatalyst.gr

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