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BFA-Bankia group signs sale of €385.9M NPL portfolio

BFA SociedadTenedora de Acciones SAU and Bankia SA signed the sale of a portfolio of €385.9million in doubtful and bad loans from various industrial sectors.

The loans are partly backed by real estate guarantees andother collateral. The portfolio comprises €253.9 million in loans correspondingto Bankia and €132 million corresponding to BFA.

The sale reduces the BFA-Bankia group's stock of doubtfulloans by €230.2 million. The transaction will also raise liquidity and providethe group with resources for new loans.