Cajamar continues to clean up its non-performing assets. The bank has transferred a new portfolio of foreclosed assets, mainly residential, to the KKR fund. The assets, included in the so-called Eros II project and sold to the fund, have a gross value of 14.2 million euros.

In recent months, the company has also placed the Atenea II portfolio with specialists Goriz Advisor and Gannet. With a volume of 17.5 million euros, the latter portfolio consisted of 200 NPLs (non-performing loans) secured by mortgages.

These are very small operations compared to those transferred in recent years, but they continue to improve the quality of the balance sheet and place the management of non-performing assets in the hands of specialists.

The institution ended the year with 1,318.8 million in non-performing assets, having reduced its exposure to foreclosed assets by 31.5% (527.81 million) and its exposure to non-performing loans to 1.93%, one of the lowest in the sector. Its exposure to doubtful loans fell to 791.05 million and it maintains provisions covering 72% of these risks.

Like the rest of the banking sector, the bank frequently resorts to the sale of non-performing assets. Recent transactions include the transfer to Balbec Capital of 136 million in healthy and non-performing loans in the Utrecht project.

Cajamar has also concluded transactions with Waterfall Asset Management, involving the sale of doubtful unsecured loans; with LC ASSET 1, Lindorff, Bain Capital, Link Financial and GCBE Advanced Solutions (formerly Gescobro), among others.

Original Story: El Economista | Author: Eva Contreras
Edition and translation: Prime Yield