Alpha Bank (ACBr.AT), one of Greece’s four largest lenders, said it signed a binding agreement to sell; a 400 million euro ($407 million) portfolio of unsecured bad loans to Hoist Finance AB for 34 million euros.
The transaction, project Light, is to reduce Alpha Bank’s non-performing exposures;(NPE) ratio by 0.5 percentage points, it said.
The deal is to be complete in the fourth quarter of 2022.
-REUTERS.
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