Montepio and BPI, which already had two portfolios of €200 million in the market, were joined by BCP, Santander Totta and Banco CTT with NPL portfolios of around €500 million.

According to information gathered by ECO from market sources, Portuguese banks have non-performing loan portfolios (NPL) worth almost €700 million up for sale.

At the beginning of April, ECO reported that Banco Montepio and BPI had already launched two processes for the sale of NPL portfolios worth €200 million.

These two banks have been joined in recent weeks by BCP, Santander Totta and Banco CTT, with portfolios with a gross book value of around €500 million.

BCP has the largest portfolio: Project Spring is worth €265 million and is made up of single names, i.e. large exposures that are in default.

Santander Totta launched two portfolios simultaneously: Pool 62 and Pool 63. The first portfolio has a value of €70 million and consists of unsecured loans. The second has a value of €30 million and is made up of secured loans.

Banco CTT’s Boavista project, worth €100 million, has only unsecured NPLs. The bank confirmed that it had carried out an “organised market consultation for the sale” of an old portfolio of 321 Crédito, an institution specialised in consumer credit, acquired in 2018.

None of the other banks would comment on the transactions.

Original Story: ECO | Author: Alberto Teixeira
Edition and translation: Prime Yield