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Report: CaixaBank sells €865M bad loan portfolio to Intrum

CaixaBank SA has sold a €865 million bad loan portfolio to Intrum AB (publ), the second large ticket sale to the Swedish debt management firm on the Spanish market in less than a week, El Economista reported Dec. 20.

The bad loans are mainly consumer and corporate loans, the paper reported. The sale will help CaixaBank clean its balance sheet and may generate a gain as most of the loans were provisioned, El Economista said.

The CaixaBank sale comes after Intrum acquired a €2.5 billion bad consumer loan portfolio from Banco Bilbao Vizcaya Argentaria SA on Dec. 18.