Bank of Cyprus NLE Ratio Drops To Single Digit
11:49 - 15 Νοεμβρίου 2021
Bank of Cyprus Holdings Public Limited Company (“BOC Holdings” and, together with its subsidiaries, the “Group”) has reached an agreement with funds affiliated with Pacific Investment Management Company LLC (“PIMCO”), for the sale of a portfolio of Non Performing Loans (the “Portfolio”) with a gross book value of €577 million, as well as real estate properties with a book value of €121 million (known as “Helix 3”, or the “Transaction”). The Portfolio has a contractual balance of €993 million and it comprises 20,000 loans, mainly to Retail clients. At completion, the Bank will receive gross cash consideration of €385 million.