Hellenic Bank completes NPL portfolio sale agreement

12 April 2022

Hellenic Bank completes NPL portfolio sale agreement

Hellenic Bank on Monday announced that it has entered into an agreement for both the sale of a non-performing exposures portfolio, as well as the bank’s servicing platform APS Debt Servicing, to Pacific Investment Management Company LLC (PIMCO).

“This is a transformative transaction making a decisive step in dealing with the Bank’s NPEs, [since] the transaction substantially de-risks the bank’s balance sheet from NPEs, reducing the NPE ratio to a proforma 3.4 per cent,” Hellenic Bank CEO Oliver Gatzke said.
 
 
 
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