National Bank of Greece (NBG) has completed the disposal of a 174 million euro ($212 million) Romanian-risk corporate non-performing loans (NPLs) portfolio to Bain Capital Credit.

The transaction is capital neutral, NBG said in a press release.

NBG announced the NPLs sale in December.

At the time, NBG said that the transaction is being implemented in the context of NBG’s non-performing exposure deleveraging strategy and in accordance with the Operational Targets submitted to the Single Supervisory Mechanism and has a neutral capital impact to the bank.

The National Bank of Greece is a global banking and financial services company with its headquarters in Athens, Greece. Some 85% of the company’s pre-tax pre-provision profits are derived from its operations in Greece, complemented by 15% from Southeastern Europe, according to its website.

In January 2020, ​NBG announced the completion of the sale of its 99.28% stake in Banca Romaneasca to Export-Import Bank of Romania (EximBank).

The Greek group is now present in Romania with leasing company NBG Leasing and Insurance company Garanta Asigurari, according to its website.

Original Story: SeeNews.com | Nicoleta Banila
Photo: Photo by Michalis Famelis / Wikimedia Commons
Edition: Prime Yield