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Alpha Bank to sell bad loan portfolio to Hoist Finance
2022.07.22 11:26
FILE PHOTO: A woman makes her way past the logo of Alpha Bank in Athens March 26, 2014. REUTERS/Yorgos Karahalis
ATHENS (Reuters) – Alpha Bank, one of Greece’s four largest lenders, said on Friday it signed a binding agreement to sell a 400 million euro ($407 million) portfolio of unsecured bad loans to Hoist Finance AB for 34 million euros.
The transaction, named project Light, is expected to reduce Alpha Bank’s non-performing exposures (NPE) ratio by 0.5 percentage points, it said.
The deal is expected to be completed in the fourth quarter of 2022.
($1 = 0.9816 euros)
