# Alpha Bank to sell bad loan portfolio to Fortress and Davidson Kempner
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-05-05
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Alpha Bank to sell bad loan portfolio to Fortress and
Meta Description: Alpha Bank, one of Greece's top lenders, signed a deal to reduce NPEs by 10 basis points. Project Hermes to be completed by May.
URL: https://financedigest.com/alpha-bank-to-sell-bad-loan-portfolio-to-fortress-and-davidson-kempnerhtml

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# Alpha Bank to sell bad loan portfolio to Fortress and Davidson Kempner

ATHENS (Reuters) – Alpha Bank ACBr.AT, one of Greece’s four largest lenders, said on Friday it signed a binding agreement to sell a 650 million euro ($717.34 million) portfolio of corporate bad loans to Fortress and Davidson Kempner.

The transaction, named project Hermes, is expected to reduce Alpha Bank’s non-performing exposures (NPE) ratio by 10 basis points, it said.

The [deal is expected](https://www.financedigest.com/portugal-expects-deal-to-disconnect-power-prices-from-gas-prices-very-soon.html "Portugal expects deal to disconnect power prices from gas prices ‘very soon’") to be completed within May.

($1 = 0.9061 euros)

(Reporting by Lefteris Papadimas)


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