BCP has already closed the sale of its non-performing loan (NPL) portfolio, dubbed ‘Project Bright’.The winner was Hoist Capital, which was competing against the consortium of LX Partners and Balbec; EOS Partners; and LC Partners.

Jornal Económico understands that Hoist paid 16.5 million for the Non-Performing Loans portfolio, a portfolio with a nominal value of 80 million euros and made up of ‘unsecured’ credit, i.e. without real guarantees. This usually translates into heavily discounted operations.

These sales are aimed at cleaning up the balance sheet of problematic assets that weigh on the bank’s capital. BCP reached the end of 2024 with 134 million euros less in loans classified as Non-performing exposures (NPE) in domestic activity, closing the year with 973 million in non-performing loans, of which 373 million are loans in default for more than 90 days. The bank led by Miguel Maya has 90 per cent of its loans in Portugal classified as NPE covered by impairments.

In terms of real estate received for credit recovery, BCP reported that it fell from a (gross) value of 169 million euros in December 2023 to 92 million in 2024.

BCP sold 569 properties last year (compared to 820 in 2023), with a book value of 58 million, for 81 million euros. In other words, the sale value exceeded the book value by 23 million.

The net portfolio of repossessed properties fell by 51.9 per cent between December 2023 and December 2024.

BCP’s NPE ratio in Portugal in 2024 stood at 1.7 per cent.

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