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Erste Bank Hungary sells HUF 19 bln of NPLs to Intrum

Deals

Erste Bank Hungary announced it had sold more than HUF 19 billion of its stock of non-performing retail mortgage loans to debt collection agency Intrum Justitia, Hungarian news agency MTI reported last Friday.

The actual transfer of the portfolio is expected to take place at the end of November. 

“The sale of the NPL portfolio further strengthens the bank and the stability of the Hungarian banking system,” Erste Bank Hungary said in the disclosure posted on the website of the Budapest Stock Exchange, MTI added.

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