Volksbank sells EUR 127 mln Romanian NPL portfolio as part of Project Donau

Newsroom 07/08/2014 | 10:26

Volksbank has assembled a multi-regional commercial property-dominant loan portfolio, dubbed Project Donau, writes costar.co.uk. The portfolio has a nominal balance of EUR460 mllion and is split across three separate tranches:
• a EUR 160m commercial real estate NPL segment in 18 exposures;
• a EUR 160m tranche of enforced commercial real estate loans in 15 exposures;
• a EUR 140m corporate NPL segment in 48 exposures, including loans to property-owning companies.

By outstanding balance, the underlying real estate and corporate assets are spread across:

• Romania, EUR127m or 28 percent. Of which EUR126m is CRE loans and assets;
• Austria, EUR62m or 14 percent. All of which is corporate lending exposures in Austria and Germany;
• Bulgaria, EUR57m or 12 percent. All of which is CRE loans and assets;
• Croatia, EUR48m or 10 percent. All of which is CRE loans and assets;
• Poland, EUR43m or 9 percent. Predominantly CRE exposures;
• Hungary, EUR36m or 8 percent All of which is CRE loans and assets;
• Germany, EUR32m or 7 percent. All of which is corporate lending exposures;
• Around EUR48m of the remaining EUR54m nominal balance is spread across corporate lending Slovakia, Luxembourg, Slovenia, Russia, United Arab Emirates and Serbia;
• Finally, EUR6m of Czech Republic exposure is secured by CRE loans and assets.

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