United Bulgarian Bank (UBB), the fifth largest lender by assets in Bulgaria, has chosen EOS Matrix to acquire bad loans worth 460 million levs (235.19 million euro) in the biggest deal on the domestic NPL market so far. All major debt collecting agencies participated in the tender.
The portfolio has been divided into five segments and consists of personal debt including overdrafts and mortgage loans overdue more than 360 days. The cleaning-up effort is in line with the merger between UBB and Cibank finalized in February by their owner, Belgium's KBC Group, which bought UBB from National Bank of Greece at the end of 2016.
Forecasts are NPL market turnover of at least one billion levs (511 million euro) in nominal terms in 2018. According to sources from the industry, among the ongoing sales of NPL portfolios in the first half of the year are Piraeus bank with 120 million euro, Postbank with 130 million euro and Unicredit Bulbank with 100 million euro.
United Bulgarian Bank (UBB), the fifth largest lender by assets in Bulgaria, has chosen EOS Matrix to acquire bad loans worth 460 million levs (235.19 million euro) in the biggest deal on the domestic NPL market so far. All major debt collecting agencies participated in the tender.
The portfolio has been divided into five segments and consists of personal debt including overdrafts and mortgage loans overdue more than 360 days. The cleaning-up effort is in line with the merger between UBB and Cibank finalized in February by their owner, Belgium's KBC Group, which bought UBB from National Bank of Greece at the end of 2016.
