According to Eco, this is a granular default NPL portfolio, whose process is being managed by KPMG. The 300 million euro concern the gross value of the credits, excluding the impairments registered by the bank for this set of contracts and loans.
The bank has one of the country’s highest toxic asset rates, having registered in June an NPE (Non-Performing Exposure) ratio of 9.3%, according to the second quarter’s statements. During the same period, the banking system showed an NPL rate of 4.3%, below the 5% rate required by the European authorities.