BUSINESS

Attica sells NPE portfolio

TAGS: Banking

Attica Bank on Friday announced the sale of a nonperforming exposure portfolio worth 700.5 million euros to Luxembourg-based TOCU Europe II Sarl, expecting the 47 million euros paid to strengthen the capital base of the mid-cap lender as Tier I capital.

The loans in question were securitized with a junior note bond, in line with the decision the bank’s annual general meeting had made on June 27.

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