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Report: Hungarian banks considering NPL sales

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Report: Hungarian banks considering NPL sales

Large Hungarian lenders are planning to sell theirnonperforming mortgages now that a national foreclosure moratorium has endedand real estate prices are rising, Reuters reported May 10, citing financialsector sources.

Erste GroupBank AG's unit ErsteBank Hungary Zrt. and UniCredit SpA are among the banks considering NPLportfolio sales to private investors, according to two of the sources. Thesources added that sales could occur in the second half of 2016, with each portfoliofetching around €250 million to €300 million.

One source also said that some prospective buyers included somesmall U.K. funds, specialized central European investors and domestic investors,Reuters reported.