In the first quarter of the year, the sale of impaired banking assets is in full swing. At present, assets totalling around €300 million, including nonperforming loans (NPL) and real estate used as collateral, are on the market. This figure is the sum of BCP’s €80 million in NPL, BPI’s €99.8 million in NPL  (part of which is secured by real estate) and the  Zip Project’s 670properties put up for sale by Quest Capital, led by Carlos Vasconcellos Cruz, which manages the portfolio, with an initial valuation of €120 million.

Four parties interested in BCP’s Bright portfolioBCP has four funds interested in its NPL portfolio known as ‘Project Bright’.
The portfolio is worth €80 million and consists of ‘unsecured’ loans, i.e. without any real guarantees. This means that the operations are usually carried out at a large discount.

According to Jornal Económico, there are four binding bids for BCP’s NPL portfolio. In the running are the LX Partners and Balbec consortium, EOS Partners, Hoist Capital and LC Partners.

For its part, BPI has just launched ‘Project Zinc’ with 99.8 million in NPLs (which includes guaranteed real estate in part of the portfolio), of which 22.4 million are guaranteed.

Original Story: Jornal Económico | Author: Maria Teixeira Alves
Edition and translation: Prime Yield