BBVA has sold a portfolio of unsecured non-performing loans in Spain for a total GBV of 500 million euro. The portfolio called Project Nairobi was divided into two segments acquired respectively by the polish Kruk Group and by a vehicle controlled by Cerberus Capital Management which will assign the servicing activities to GCBE (previous Gesccobro).
In 2022 BBVA had made transfers of this type for 730 million euros with the Neila Project
