Cepal announces the successful completion of a transaction involving the transfer of a portfolio comprising 824 borrowers to CrediaBank. The portfolio consists primarily of reperforming residential mortgage loans, with a total gross book value of €37,4 million, originating from existing securitisations under the “Hercules” programme and managed by Cepal.
The transaction is particularly significant as it represents the first direct transfer of a portfolio of reperforming residential mortgage loans to a bank, following a previous similar transaction involving SME loans, also carried out by Cepal with another bank. At the same time, it constitutes an initial, necessary step towards generating market data and building confidence, which can support the development of a secondary market for reperforming loans in Greece and, to some extent, the gradual return of performing borrowers under the “Hercules” programme to bank portfolios.
The transaction once again highlights Cepal’s experience and expertise in loan servicing and the execution of complex transactions, as well as the important role of effective loan management in restoring regular loan repayments and, more broadly, in addressing private debt challenges in Greece.
