ECONOMY

National Bank sells 2 bln euros of NPLs

national-bank-sells-2-bln-euros-of-npls

National Bank, Greece’s second-largest lender by assets, said on Thursday it had agreed to sell 2 billion euros of unsecured non-performing loans to CarVal Investors and Intrum.

The price of the transaction was 6 percent of the principal, the bank said in a statement.

Greek banks have been under pressure from regulators to tackle their soured loans which are clogging up their balance sheets and holding back lending. [Reuters]