Alpha Bank AE entered into a binding agreement with B2Holding ASA for the sale of a retail unsecured nonperforming loan portfolio with a total outstanding balance of €3.7 billion for a consideration of €90 million.
The portfolio had a total outstanding principal amount of €2.0 billion as of June 30, 2017. The deal is expected to be completed within the first quarter and reflects the Greek lender's plan to reduce nonperforming exposures and restore its balance sheet.
Alpha Bank noted that the transaction is expected to have a positive impact on its financial results, capital and liquidity.
