The State’s bank CEO, Paulo Macedo, has revealed that Caixa Geral de Depósitos (CGD) is going to put a new portfolio of unsecured non-performing loans (NPL), totalling a nominal value of 440 million euros, up for sale.

Despite its low NPL ratios, Caixa Geral de Depósitos is still going to clean up its balance sheet. The bank will put a portfolio of Non-Performing Loans (NPL) worth 440 million euros on the market this quarter, revealed Paulo Macedo, at the presentation of the quarterly results.

It already has a name. It’s the ‘Moon portfolio’, and it’s made up of old loans, known as granular, without guarantees (unsecured).

At the end of September, the consolidated NPL ratio was 1.59%, down from 1.65% in December

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