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Moneta Money Bank sells 2 retail unsecured NPL books

Moneta Money Bank a.s. sold two portfolios of legacy retail unsecured nonperforming loans with a nominal value of about 940 million Czech koruny in April and May.

The NPL books were auctioned and generated extraordinary gains of about 110 million koruny. The books comprise about 18,500 retail loans in default for over seven years.

Moneta said the sales reduced its NPL ratio by about 0.3%. It added that it shall continue disposing legacy NPLs throughout 2018, subject to market conditions.

As of May 18, US$1 was equivalent 21.81 Czech koruny.