Over the last past days, the BBVA banking group has sold a portfolio of non-performing loans (NPLs) in Spain with a GBV of approximately 270 million euros. The deal was awarded to the Norwegian debt buyer and servicer Axactor, listed on the Oslo stock exchange.
The operation called “Estoril Project” will have a positive impact on the NPL ratio by BBVA which was 4.11% at the close of the first quarter of 2024.
In 2022 and 2023 BBVA had also sold two non performing loans portfolios in Spain with a GBV of 730 million euros (Neila Project) and 500 million euros (Nairobi Project) respectively.
The Spanish branch of Axactor together with the Italian one are certainly among the most dynamic of the group present as it is also known in various other countries.
