# Alpha Bank to sell bad loan portfolio to Fortress and Davidson Kempner
Published: 2023-05-05
Category: News
Category URL: https://tradingherald.com/category/news/
Meta Title: Alpha Bank to sell 650 million euro bad loan portfolio to
Meta Description: Greece's Alpha Bank signs deal to unload 650 million euro bad loan portfolio to Fortress and Davidson Kempner, named project Hermes, reducing NPE ratio.
URL: https://tradingherald.com/alpha-bank-to-sell-bad-loan-portfolio-to-fortress-and-davidson-kempner/

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qsox2m002hwirg5vexoy7l/images/2023-05-05t070441z1lynxmpej4405zrtroptp4greece-banks-1737037720472-compressed.jpg)

## Alpha Bank to sell bad loan portfolio to Fortress and Davidson Kempner

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)


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---