National Bank puts NPL portfolio of 5.2 bln euros up for sale

The National Bank of Greece will officially launch the process for the sale of bad loans with a total value of 5.2 billion euros on February 5.

This is the first portfolio the bank is putting up for sale, following the example set by Eurobank and Alpha.

According to the timetable the NBG management has set, the virtual data rooms for the portfolio to be offered for sale under the name "Earth" will open next month, with potential investors asked to table their binding offers by March 5. Morgan Stanley will be running the procedure.

Next week Alpha Bank is also awaiting binding bids for the "Venus" loan portfolio worth an original sum of 2.5 billion euros. In end-2017 Eurobank had also sold an NPL portfolio of 1.5 billion euros.

Sources say Piraeus Bank will also follow, planning the transfer of two portfolios, worth 1.5 billion euros each: They...