Investor, Servicer & Debt Buyer Newsroom NPL - Distressed Asset

BBVA sells a portfolio of NPL secured in Spain worth 330 million euros

BBVA has signed the sale of a portfolio of unpaid loans with guarantees – non payed and failed – (or ‘secured non performing loans‘). The portfolio has an approximate gross value of 330 million euros. It is the second sale of this type that BBVA makes in 2023.

BBVA has closed an agreement to transfer unpaid mortgage loans (known as ‘Project Artemisa‘), with an approximate gross value of 330 million euros.

This operation is part of BBVA’s value creation and balance sheet management strategy with capital optimization and will have a positive effect on the entity’s default rate in Spain.

The portfolio is made up of mortgage loans, distributed throughout Spain, in Andalusia, Madrid, Valencia and Catalonia.

In July 2023, BBVA sold a portfolio of ‘unsecured’ loans in Spain, with a gross value of approximately €500 million, under the name ‘Nairobi‘.

Previously, in 2022, BBVA sold another portfolio of this type of loans in Spain, with a gross value of approximately 730 million euros, under the name ‘Neila‘.

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Managing Director of Credit Village, Roberto Sergio has more than 20 years of experience in NPL and distressed debt in the Italian and International market. He is the editor of the NPL column in Credit Village Magazine and the director of Credit Village's National NPL Market Observatory.

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