BUSINESS

EBRD set for first Greek NPL deal

TAGS: Banking

The European Bank for Reconstruction and Development expects its first deal to take over bad Greek loans in the coming weeks, one of its top officials said on Tuesday.

Sabina Dziurman, the EBRD’s director for Greece and Cyprus, told Reuters the moves should set the bank’s spending in Greece this year on course to top the 320 million euros laid out last year.

“We expect some transactions to be announced in the next few weeks,” Dziurman told the Reuters Global Markets Forum.

“I’d be disappointed if [investment] was less this year.”

Dziurman said the EBRD had been positively surprised by the interest in Greece from the private sector so far and was talking to potential nonperforming loan (NPL) investors who could help manage bad loan packages going forward.

[Reuters]

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