Banking
Alpha Bank agrees sale of bad loan portfolio to Hoist Finance
Published by maria gbaf
Posted on December 29, 2021
1 min readLast updated: January 28, 2026
Global Banking & Finance Review®
Company
Published by maria gbaf
Posted on December 29, 2021
1 min readLast updated: January 28, 2026
Alpha Bank sells 1.3 billion euros in bad loans to Hoist Finance, reducing non-performing exposures by 2.3 percentage points.
ATHENS (Reuters) – Alpha Bank, one of Greece’s four biggest lenders, said on Tuesday it entered into a binding agreement with Hoist Finance AB to sell non-performing loans with a book value of 1.3 billion euros ($1.47 billion).
The Orbit portfolio relates to retail unsecured non-performing loans with the sale expected to be completed in the first quarter of 2022, the bank said in a news release.
“The transaction has been agreed at 108 million euros or 7.4% of total unpaid principal balance,”, the bank said.
Greek banks have been working to reduce a pile of about 30 billion euros in bad loans, the legacy of a decade-long financial crisis which shrank Greece’s output by a quarter.
The transaction is the third after the securitisation of Galaxy and Cosmos portfolios. It is expected to reduce Alpha Bank‘s non-performing exposures by 2.3 percentage points.
($1 = 0.8841 euros)
(Reporting by Lefteris Papadimas; editing by Jason Neely)
The main topic is Alpha Bank's sale of a non-performing loan portfolio to Hoist Finance.
The loan portfolio has a book value of 1.3 billion euros.
The sale is expected to be completed in the first quarter of 2022.
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