Alpha, Eurobank to sell three NPL portfolios by end-2018

Alpha Bank and Eurobank are set to complete the sales of three portfolios of nonperforming loans valued at 4.7 billion euros by end-2018, bringing the total face value of loans unloaded by the country's four systemic banks above 20 billion euros (including interest).

The portfolios are Eurobank's Zenith, valued at 2 billion euros, and Alpha Bank's Mercury and Jupiter, worth 1.9 billion and 800 million respectively.

The write-offs are aimed at reducing the Greek lenders' nonperforming exposures (NPEs) in view of the new targets the banks will submit to the European Central Bank's Single Supervisory Mechanism (SSM) in September.