Abanka selling €246m NPL book

Slovenian lender Abanka is selling a portfolio of European non-performing loans (NPLs) with an original value of about €246 million. The country’s third largest bank said the portfolio comprises “well-diversified” non-performing loans against a variety of different companies, the majority of which have real estate assets as their collateral. The sale process, currently in its […]

Slovenian lender Abanka is selling a portfolio of European non-performing loans (NPLs) with an original value of about €246 million.

The country’s third largest bank said the portfolio comprises “well-diversified” non-performing loans against a variety of different companies, the majority of which have real estate assets as their collateral.

The sale process, currently in its initial phase, is expected to be carried out by consultancy PwC in Slovenia, which has started to seek investors to buy the portfolio.

Abanka and PwC will now assess the viability of potential investors, including their plans to finance any purchase of the loans.

The bank noted that it was not obliged to conclude a sale of the portfolio.

Abanka was created in 2015 following the merger of Abanka Vipa and Banka Celje in a move to restructure Slovenia’s banking system.

In January this year, state-owned Slovenian Sovereign Holding (SDH) announced its intention to sell Abanka in 2017 rather than by the middle of 2019 as previously planned. As Slovenia’s privatisation body, SDH has also sought a valuation of the country’s largest bank, Nova Ljubljanska Banka (NLB), which is due to be sold this year.

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