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PATRIA BANK S.A. - PBK

Selling a non-performing loans portfolio

Release Date: 10/3/2018 6:39:03 PM

IRIS Code: 1B952

No. 61031/03.10.2018

 

 

To:          FINANCIAL SUPERVISORY AUTHORITY (FSA) - Financial instruments and investments sector

                BUCHAREST STOCK EXCHANGE

 

Ref: Selling a non-performing loans portfolio

 

 

Current report: according to BSE Code and FSA Reg. 5/2018

Report date: 03.10.2018

Name of the issuer: PATRIA BANK SA

Headquarters: Bucharest, 31 Ion Brezoianu, Actor Street, 1st, 2nd and attic

Phone / Fax No: 0372538725 / 021 206 39 02

Unique Registration Code with the Trade Register: RO 11447021

Order number in the Trade Register: J40/9252/2016

Subscribed and paid-in share capital: RON 274,165,692.20

The regulated market where the instruments are traded: Bucharest Stock Exchange

 

 Privileged information

 

In accordance with the provisions of art. 122 para (1) of the Law no.24/2017, as well as of art. 234 para t) and of art. 144 A of the  FSA Regulation no. 5/2018 on issuers of financial instruments and market operations, Patria Bank SA (“the Bank”) informs about the fact that on 03.10.2018 the Bank has signed with InvestCapital LTD, part of KRUK Group, a contract whereby the Bank sells a non performing loans portfolio consisting of unsecured loans granted to individuals. The exposure related to this transaction concerns a number of approx.  9,800 contracts with a nominal value of approx. LEI 245 million and it will be locally managed by KRUK Romania.

This transaction marks a success that will contribute to achieving the business objectives and improving the profitability indicators, which already showed a positive trend starting with the second quarter of 2018.

A new portfolio sale project will follow this transaction and it is estimated to happen by the end of this year, targeting non-performing loans for individuals and companies, both secured and unsecured.

 

DEPUTY GENERAL MANAGER                                                                     DEPUTY GENERAL MANAGER

BOGDAN NEACSU                                                                                           LUCICA PITULICE

 



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