Piraeus Bank Is Said Near EU400m Sour Consumer Loan Sale: Rtrs

7
Jun

Piraeus Bank Is Said Near EU400m Sour Consumer Loan Sale: Rtrs

Posted by Geore Anavaloglou / ΝΕΑ ΕΣΩΤΕΡΙΚΟΥ

(Bloomberg) —

Piraeus Bank is close to signing a deal to sell EUR400m of soured, unsecured consumer loans as part of move to shrink bad debt, Reuters reports, citing unidentified bankers close to deal.

Project involves about 220,000 non-performing credit card and consumer loans; almost half of the loans are in EU1,000-EU5,000 range: Reuters
Talks in final phase with three shortlisted buyers, APS Holdings, Intrum and EOS: Reuters, citing one of the bankers
Piraeus Bank declines to comment to Reuters; APS, EOS, Intrum weren’t immediately available to comment to Reuters
Ernst and Young is advising Piraeus on sale

Source: Bloomberg

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