Piraeus Bank seals milestone deal with KKR over 1.2 bln of non-core assets

EconomyBanking Tags: Banking, Piraeus
Photo by MacroPolis
Photo by MacroPolis

In an unusual move by the standards of the Greek banking sector, Piraeus Bank has announced an agreement with leading global investment firm KKR for the transfer and securitisation of 1.2 billion of non-core assets to a new structure managed and controlled by KKR Credit and serviced by Piraeus.

The assets include Greek and international, performing and non-performing loans (NPLs) as well as equity participation.

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