Specifically, according to a related announcement following its announcement from 28.08.2023, Alpha Services and Holdings S.A. "its 100% subsidiary, Alpha Bank S.A., completed on 20.10.2023 the sale of a Portfolio of Non-Performing and unsecured Retail Banking Loans, with a total outstanding balance of €1.5 billion (with a reference date of 30.09. 2022), to the company Hoist Finance AB (publ). This is the Project Cell and concerns non-performing loans without collateral consisting of consumer loans, credit cards while 10% concerns small business loans.
The Transaction is capital neutral for the Bank and will contribute to the further consolidation of its balance sheet by reducing the MEA Index by 0.2 percentage points".
