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‘.

Roberto Sergio

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.

Credit Village is a leading company in the field of specialized publishing and event organization for the credit management industry and in all issues and aspects related to the NPE market, including ESG , M&A, Real Estate etc. Credit Village has been the first company in Italy to bring the culture of the credit management industry to the press, events and online, creating the largest community in the sector around itself.