Bank continues to strengthen its capital and liquidity
buffers
Bank of Valletta today announced that, following a strategic
review of its book of non-performing loans, it has sold a portfolio
of non-performing loans (the
"Portfolio") for a consideration of
€26 million with a view to strengthening the Bank's
capital and liquidity buffers, and to ensuring that the Bank's
resources are focused on servicing loans with a better prospect of
recoverability.
Supported by external advisors, the Bank selected the Portfolio
using pre-defined criteria. The Portfolio is comprised of 707
non-performing loans ("NPLs") across 245
borrowers, the majority of which have been granted commercial loans
to finance business activities across a number of different
industries. The Portfolio also includes personal loans, credit card
loans, home loans, encroached savings and current accounts and
other debts. The Portfolio is significantly biased towards loans
and facilities that have been
