Serbian Finance Ministry says bankrupt bank NPLs sold

NEWS 20.04.2021 15:00
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Source: Tanjug / Sava Radovanović

The Serbian Finance Ministry said on Tuesday that a second package of non-performing loans from bankrupt banks worth 1.82 billion Euro.

The NPLs were managed by the Deposit Insurance Agency. The Finance Ministry did not specify the buyer of the NPLs nor what they will pay for the package. “The Deposit Insurance Agency successfully sold the so-called big portfolio of debts of eight bankrupt banks and the debts managed by the Agency for the Republic of Serbia nominally worth 1.82 billion Euro,” the press release said.

The first package of those NPLs was sold in February 2019 to the German EOS Matrix that paid 11.29 million Euro for the debt package worth some 240 million.

The press release quoted Finance Minister Sinisa Mali who said that the sale means that the decades old problem of bankrupt banks in Serbia is being resolved. He said that investors made their final offers in September 2020.

The press release said that the sale of the second NPL portfolio was defined as a reform goal in Serbia’s earlier arrangement with the International Monetary Fund.