RCB Bank Ltd announced that it has entered into an agreement with Hellenic Bank for the sale of a performing loan portfolio of up to €556 million, related deposits in the accounts of the respective borrowers, as well as related off-balance sheet liabilities.
RCB announced that this transaction will further strengthen its capital and liquidity reserves, while the bank's liquidity 'will exceed the total amount of all its liabilities'.
As stated in the announcement, the sale of the loan portfolio will be completed in two phases - the first phase amounting to approximately €292 million and relating to financings in Cyprus and the second phase amounting to approximately €264 million and relating to financings in Cyprus, the European Union and the United Kingdom.
(CNA)
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