BPI has closed the sale of a portfolio of bad debts, amounting to 140 million euros, to funds managed by LX Investment Partners, the bank announced on Thursday.
“Banco BPI concluded the sale of a portfolio of ‘delinquent’ loans, including positions with and without real mortgage guarantee (Citron Project), for a total gross value of about 140 million euros,” the financial institution said in a statement.
“Attentive” to the crisis. Who are the companies that make millions from bank defaults?
According to the bank, the portfolio of ‘delinquent’ loans sold corresponds to some 15,000 loan contracts for some 5,000 clients.
“This operation reinforces BPI’s position of strength, which maintains the best credit risk ratio (NPE) in the financial sector in Portugal”, says BPI.
According to the entity, at the end of the first half of the year, BPI’s NPE ratio stood at 1.6%.
Source: Observadora
