Piraeus completes Sunrise II securitisation as banks stay focused on NPE reduction

EconomyBanking Tags: Alpha, Banking, Eurobank, NBG, NPLs, Piraeus
Photo by MacroPolis
Photo by MacroPolis

Piraeus Bank announced on Monday that it entered into definitive agreement with Intrum and Serengeti Asset Management for the sale of 49 pct of the mezzanine and 2 pct of the junior notes of the Sunrise II securitisation.

The portfolio consists of roughly 47,000 retail and corporate loans with a gross book value of 2.7 billion euros as of the end of last year.

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