BPI sells a €140 million NPL portfolio

BPI has completed the sale of the €140 million non-performing loans (NPL) portfolio Project Citron to funds managed by LX Investment Partners, the Portuguese bank informed. 

With a gross value of approximately € 140 million, the Project Citron is made of 15,000 contracts from about 5,000 clients, including both mortgage-backed and non-mortgage-backed loans.

“This transaction reinforces the strong position of BPI, which maintains the best  non-performong exposure (NPE) risk ratio in the Portuguese financial sector,” the bank said.

In the end of the 1st semesters, BPI’s NPE ratio stood at 1.6%.

Original story: Jornal de Negócios | Hugo Neutel 
Photo: BPI Facebook
Edition and translation: Prime Yield