EBRD supports NPL resolution in Greece
In efforts to support Greece in reducing its level of non-performing loans (NPLs), the European Bank for Reconstruction and Development (EBRD) and Alpha Bank are providing a €105 million loan to Cepal Hellas to support the growth of the NPL servicing company.

Cepal Hellas specialises in managing loans and credit receivables and is one of the leading independent NPL service providers in Greece, regulated by the central bank. By expanding its activities, it aims to help reduce the country’s NPL stock even further.

The EBRD’s portion of the loan will be up to €50 million and Alpha Bank will fund the remainder. The financing will indirectly support Project Galaxy, the largest NPL securitisation transaction in Greece and the third largest in Europe to date.

The financing comes under the EBRD’s NPL Resolution Framework, launched in 2017 to help resolve the challenge of persistently high NPL levels in many of the economies where the Bank invests.