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Bankinter to sell €66.4M portfolio of doubtful debt to Arrow Global

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Bankinter to sell €66.4M portfolio of doubtful debt to Arrow Global

Bankinter SA agreed to sell a portfolio of doubtful and written-off loans of unit Bankinter Sucursal en Portugal amounting to €66.4 million to Arrow Global Ltd.

The portfolio comprises about €134.7 million in doubtful debt secured by collateral and personal guarantees and €227.5 million in write-offs, the Spanish banking group said Aug. 10.

Following completion of the sale, Bankinter's nonperforming loan ratio will decrease by approximately 23 basis points while that of its Portuguese unit will drop by around 250 basis points.