BUSINESS

Alpha Bank in deal to sell 1.0 bln euros pool of sour loans

TAGS: Banking

Greece’s fourth-largest lender Alpha Bank said on Thursday it clinched a deal to sell 1.0 bln euros of Greek small business non-performing loans with a consortium of funds managed by Apollo Global Management and the IFC.

Alpha Bank said the agreed sale price for the NPL portfolio which is secured mainly by real estate assets, was set at 337.1 million euros or about 33.6 percent of gross book value.

The deal also includes the disposal of repossessed asets of an on-balance sheet gross book value of 56 million euros for 51 million euros. [Reuters] 

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