Alpha Bank Sells Cypriot Portfolio to Cerberus for EUR 2.4 Billion

Montag, 14.02.2022 07:35 von PLX

• (PLX AI) – Alpha Bank announces binding agreement with Cerberus for the sale of a Cypriot portfolio of non-performing loans and real estate properties with a total gross book value of Euro 2.4 billion.
• • The Portfolio will be sold by the 100% subsidiary of the Group, Alpha International Holdings S.M.S.A.
• • With this transaction, the Group further de-risks its balance sheet by reducing the NPE ratio by an additional approximately five percentage points to 13%, the bank said
• • Transaction expected to be completed in Q3 2022