Alpha Bank Secures Deal to Sell 1 Billion Euro in Non-Performing Loans

(Photo by EUROKINISSI/ Panagopoulos Giannis)

ATHENS – Alpha Bank, Greece’s fourth-largest lender, announced on November 29 that it secured a deal with a consortium of funds managed by Apollo Global Management and the IFC to sell 1 billion euros of Greek small business non-performing loans (NPL), Reuters reported.

Alpha Bank said, Reuters reported, “the agreed sale price for the NPL portfolio which is secured mainly by real estate assets, was set at 337.1 million euros or about 33.6 percent of gross book value,” adding that “the deal also includes the disposal of repossessed assets of an on-balance sheet gross book value of 56 million euros for 51 million euros.”