BPI prepares the sale of €200 million in NPL

BPI’s CEO, Pablo Forero, stated that the Bank is preparing the sale of a Non-Performing Loans (NPL) portfolio worth €200 million involving unsecured credit to companies.

“We are currently on a process to sell an NPL portfolio of €200 million”, the manager said during the press conference held to present the results of the Bank in January-September 2018. “It’s a portfolio of unsecured credit to companies”, Pablo Forero added. Between January and September 2018, BPI has recorded a consolidated profit of €529,1 million, a value that compares to the €22,6 million recorded year before.

The CEO of BPI also reported that this year the Bank has already sold 300 properties worth €26 million, corresponding to a gain of about €2,8 million.

During this period, credit to companies has increased 12% to €7,887 million.

As for the credit for house acquisition record a 1.3% growth over the period to €11,233 million.

Original Story: Lusa in Diário de Notícias
Photo: BPI Bank
Translation and edition: Prime Yield