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Alpha Bank signed binding agreement with B2Holding group

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Alpha Bank announced that it has signed a binding agreement with the B2Holding group for the disposal of a Portfolio of Retail Unsecured Non-Performing Loans, of a total outstanding aggregate balance of Euro 3.7 billion and a total outstanding principal amount of Euro 2.0 billion as of 30.6.2017.

The consideration of the transaction has been agreed at Euro 90 million or approximately 4.5% of the total outstanding principal amount. The transaction is expected to have a positive impact for the Bank in terms of financial results, capital and liquidity.

The servicing of the Portfolio has been undertaken by “CEPAL HELLAS FINANCIAL SERVICES S.A.”, a servicing company which has been licensed and is regulated by the Bank of Greece in accordance with Law 4354/2015. 

The transaction is expected to be concluded within the first quarter of 2018 and is fully consistent with the Bank’s Business Plan to reduce Non-Performing Exposures and continue the restoration of its balance sheet.

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