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NBG ready to sell-off 3bln€ portfolio of 'bad debt' - business and consumer loans

Friday, 11 Jan 2019 17:56 UPD: 17:57
Eurokinissi / ΠΑΝΑΓΟΠΟΥΛΟΣ ΓΙΑΝΝΗΣ

National Bank of Greece (NBG) is ready to sell-off roughly three billion euros worth of "bad debt", mostly loans towards extended to businesses (two billion euros) and one billion euros of non-performing consumer loans.  

The first tranche, known in the local market as "Symbol", includes collateral of approximately 5,000 commercial properties.  
NBG is expected to hold an "investment day" in London in March, where, among others, it will announce new targets for reduction of NPLs and NPEs, along with the sale of subsidiaries, efforts to reduce operating costs and what the oldest Greek commercial bank calls its presence in the post-bailout period.

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