Completion of the acquisition of Tranche B of the performing loan portfolio of RCB Bank
20 June 2022
Further to the announcements of Hellenic Bank Public Company Limited (the “Bank”) dated 22nd and 24th March 2022, the Bank announces that it has successfully completed the acquisition of Tranche B of the performing loan portfolio from RCB Bank Limited (“RCB Bank”).
Tranche B relates to Cypriot and other EU exposures of gross book value of c. €641 mn, related cash collaterals and other credit balances of c. €21 mn and letters of guarantee of c. €11 mn. The main sectoral exposures of Tranche B are: 48% real estate and construction and 40% hotels.
Taking into account the acquisition of Tranche A, as announced on 24th March 2022, and the acquisition of Tranche B, the performing loan portfolio acquired from RCB Bank totals c. €3561 mn of gross book value.
HELLENIC BANK PUBLIC COMPANY LIMITED
1 With final figures subject to the fair value assessment.