“The closing of this portfolio [signed in July] will happen in August and it will be recognized in the third-quarter figures,” said Andreas Gottschling, a member of Erste’s management Board. “A similar deal is in the pipeline.”
The value of the next NPL portfolio is estimated at some EUR550 million.
BCR manages a non-performing loans portfolio of around RON12.9 billion (EUR2.9 billion), but aims to reduce it by 25% until year-end, the bank said in its financial report released earlier today.
BCR swung to a loss of RON276.6 million in the first half of 2014, from a net profit of about RON561 million a year ago, due to “sustained provisioning” associated to balance sheet clean-up.