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Report: Nova Ljubljanska Banka to sell €800M bad loan portfolio

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Report: Nova Ljubljanska Banka to sell €800M bad loan portfolio

isclose to completing negotiations on the sale of nonperforming loans valued at€800 million, Dnevnik reported April28.

The twomain contenders for the portfolio are B2 Kapital, which is part of Norway's B2Holding, and local company KF Finance. Sources told the publication that theportfolio will most likely be sold to KF Finance, which offered about €160million for the loans. It will reportedly act as a local contractor in the transaction,buying the portfolio on behalf of an unnamed U.K. partner.

NLBsaid the potential sale of bad loan portfolios is in line with its strategy butrefused to disclose further information on the potential deal, the report noted.

NPLsat NLB Group amounted to €1.9 billion at the end of 2015, constituting 19.3% ofthe total loan book, Dnevnik said.