BPER Group: sale without recourse of a bad loan portfolio for a gross of € 450 million

BPER Group would like to announce completion of the sale without recourse of a bad loan portfolio to two different investors specialized in this sector, Algebris NPL Fund and Cerberus European Investments.

The portfolio of bad loans that has been sold consists of approximately 15,000 positions for a total gross book value (“GBV”) of approximately € 450 million. The bad loans sold are primarily secured by real estate collateral (87%) and related to corporate counterparties; the unsecured portion, that is not backed by collateral, included in the sale amounts to approximately € 58 million (13% of the overall portfolio sold) and is made up of around 14,500 positions. The impact of this transaction on the consolidated income statement is not significant.