Caixa Geral de Depósitos will go ahead with the sale of a nonperforming loan (NPL) portfolio of more than 120 million euros in the second half of the year.
According to Economico, the Portuguese State owned bank has already launched the sales process of the Mercury Project, a granular portfolio of collateralised NPLs with a total value of 128 milion euros, and which not include NPL from large debtors.
At the same time, the Portuguese diary added, both Novo Banco and Santander Totta are also triggering the sale of their own NPL portfolios.
Original Story: Jornal Económico |Maria Teixeira
Photo: CGD Website
Edition & Translation: Prime Yield