Altamira Portugal expects 1 billion in new NPL until the end of the year

The new CEO of Altamira Portugal, Isabel Teixeira, is expecting a significant increase in new nonperforming loans (NPL) coming to the market within the news few months, she said in an interview to Económico.

Isabel Teixeira admits that by the end of the year the amount of NPL coming onto the market will reach the global value of 1 billion euros. “There are portfolios entering the market coming from practically all banks, and whose tenders are expected to take place by the end of the year,” the manager acknowledged.

In the same occasion, Altamira’s responsible in charge of the Portuguese market also spoke of the possibility of the state seeing the guarantees provided in the Covid lines executed and therefore being able to become a seller of NPLs, alongside the banks.

Original Story: Jornal Económico |Maria Teixeira Alves 
Photo: Altamira Linked In
Edition & Translation: Prime Yield