Bank of Cyprus sells €916m of NPLs to Pimco

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Bank of Cyprus sells €916m of NPLs to Pimco

Tom Brown
August 07, 2020 01:15 PM
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Famagusta, Turkish Republic of Northern Cyprus. Corinthian columns and sculptures at bath complex in ancient city Salamis ruins. Sunny day, blue sky. | lermont51 - stock.adobe.com

The Bank of Cyrus has announced the sale of a €916m non-performing loan (NPL) portfolio to Pimco, dubbed Project Helix 2 after the first Project Helix cleared €2.7bn of NPLs from the bank’s balance sheet.

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