BoC close to selling €2.8 billion worth of NPLs

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BoC close to selling €2.8 billion worth of NPLs
 © In-Cyprus 2020
Bank of Cyprus is close to selling Project Helix 2 portfolio of non-performing loans worth up to €2.8 billion following contacts between members of the lender and UK-based investment funds.

Negotiations on Helix 2 began in mid-June last year shortly after Project Helix 1 was sold, a move that led to the reduction of the bank’s European Banking Association-based NPL’s ratio to 33% by June 30, 2019.

The completion of Project Helix meant the sale of a portfolio of loans with a gross book value of €2.8 billion – of which €2.7 billion related to non-performing loans...


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This article was automatically added to our system 10-3-2020

BoC close to selling €2.8 billion worth of NPLs


The contents of this article including any associated images are © In-Cyprus 2020
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