# Alpha Bank to sell bad loan portfolio to Fortress and Davidson Kempner
Published: 2023-05-05
Category: Headlines
Category URL: https://business.express/category/headlines/
Meta Title: Alpha Bank sells 650 million euro bad loan portfolio to
Meta Description: Alpha Bank, one of Greece's largest lenders, signs agreement to sell bad loans, reducing NPE ratio. Deal with Fortress and Davidson Kempner to be
URL: https://business.express/alpha-bank-to-sell-bad-loan-portfolio-to-fortress-and-davidson-kempner/

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ATHENS (Reuters) – Alpha Bank ACBr.AT, one of Greece’s four largest lenders, said on Friday it signed a binding agreement to sell a 650 million euro ($717.34 million) portfolio of corporate bad loans to Fortress and Davidson Kempner.

The transaction, named project Hermes, is expected to reduce Alpha Bank’s non-performing exposures (NPE) ratio by 10 basis points, it said.

The deal is expected to be completed within May.

($1 = 0.9061 euros)

(Reporting by Lefteris Papadimas)


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