National Bank of Greece (NBG) is ready to sell-off roughly three billion euros worth of “bad debt”, mostly loans towards extended to businesses (two billion euros) and one billion euros of non-performing consumer loans, naftemporiki.gr reports.
The first tranche, known in the local market as “Symbol”, includes collateral of nearly 5,000 commercial properties.
NBG is expected to hold an “investment day” in London in March, where, among others, it will announce new targets for reduction of NPLs and NPEs, along with the sale of subsidiaries, efforts to cut down operating costs and what the oldest Greek commercial bank calls its presence in the post-bailout period.
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