BCP sells €131M in non-performing loans in Q3

By TPN/Lusa, in News · 09-11-2019 12:00:00 · 1 Comments

Portuguese bank BCP sold €131 million in non-performing loans in the third quarter and a total of €382 million in the first nine months of the year, the president of the bank said

According to Miguel Maya, these non-performing loans sales are part of the bank's strategy, of the normal process of reducing the bank's non-performing exposures (NPE).

The manager did not want to say the amountthat the bank foresees to sell, mentioning that it only talks with closed operations.

"We talk about operations when we close operations. In each quarter we say the amount and we present to the market," he said.

In September, the bank had €4.6 billion in NPEs, which includes mainly non-performing loans, €1.7 billion less than in September 2018.

In the operation in Portugal, the NPEs were €3.7 billion in September, €1.9 billion less than a year ago. Since September 2018, BCP has already sold €700 million in credit in Portugal.


Comments:

It would be helpful if you could define what is meant by an "NPE" .

By Cavaleiro from Other on 09-11-2019 04:41
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