BUSINESS

Consortium to handle Greek banks' NPLs

TAGS: Banking

Hoist Finance publ AB confirmed on Tuesday it has entered into a strategic partnership as part of a consortium, consisting of Hoist Finance, Qualco SA and PricewaterhouseCoopers Business Solutions SA.

The consortium has been selected via a tender process initiated by the Bank of Greece to manage the aggregated nonperforming-loan portfolio of 16 Greek banks under liquidation and to drive the reorganization and optimization of the underlying entities.

The transaction will not entail any material financial effects in the near future but could open significant opportunities over time for Hoist Finance, the firm said.

[Reuters]

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