ECONOMY

NBG to sell Romanian NPE portfolio to Bain Capital Credit

nbg-to-sell-romanian-npe-portfolio-to-bain-capital-credit

National Bank of Greece (NBG) announced on Tuesday that it had entered into a definite agreement with Bain Capital Credit for the sale of a Romanian-risk corporate nonperforming exposures portfolio (“Project Danube”) with a total gross book value of around 174 million euros.

The transaction is being implemented in the context of NBG’s NPE deleveraging strategy and in accordance with the operational targets submitted to the European Central Bank’s Single Supervisory Mechanism (SSM).

The transaction will have a neutral capital impact on NBG, the lender stated.