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Bank Austria Creditanstalt sells non-performing loans

  • The transaction comprises a nominal volume of EUR 850 million
  • Borrowers concerned are protected by a legal provision requiring that their position must not deteriorate
  • Buyers: well-established investors from France and Sweden and from Germany

Today, Bank Austria Creditanstalt (BA-CA) has completed, as planned, the sale of loans previously called for repayment. The portfolio comprises non-performing loans to retail customers with a total nominal volume of about EUR 850 million. Of the total volume, a consortium consisting of Calyon S.A., a subsidiary of the French bank Crédit Agricole, and the Swedish Intrum Justitia Group is taking over loans amounting to EUR 640 million. German EOS Group, which is represented by EOS ÖID Inkasso-Dienst GmbH in Austria, is buying loans totalling EUR 210 million.

“These two buyers are professional investors which will deal with the non-performing loans in a manner customary in the banking business,“ says Thomas Gross, Chief Risk Officer of BA-CA, “we are thereby improving our risk position and freeing up equity capital under Basel II.“ The contracting parties have agreed not to disclose any details of the purchase price.    

 IR Release download (PDF; 35 KB)