The LCM Partners fund has reached an agreement to take over a €200 million portfolio of non-performing mortgages held by Unicaja, according to Bloomberg and confirmed by market sources to Europa Press.

In the first half of 2024, Unicaja granted around €1.2 billion in mortgages. In total, the bank’s performing mortgage portfolio amounted to €29.647 billion at the end of June, more than 61% of all customer loans.

At 30 June, the bank had €1.417 billion of non-performing loans (NPL), of which €739 million were mortgages. This represents an NPL ratio of 2.9% for the total balance sheet, which falls to 2.4% for mortgages.

In fact, in its first-half report, the bank said it had seen no signs of deterioration in the retail mortgage portfolio in this cycle of rising interest rates.

Original Story: Idealista
Translation and edition: Prime Yield