Greece's Eurobank to sell 1.5-bln-euro bad loans pool to Intrum

Eurobank, Greece's third largest lender, said on Thursday it will sell a 1.5-billion-euro pool of non-performing loans to Sweden's Intrum, as part of efforts to reduce its load of sour debt and meet targets agreed with regulators.

Greek banks are burdened by soured loans clogging up their balance sheets and holding back lending. The total of so-called non-performing exposures (NPEs) amounted to 101.8 billion euros at end-June or 50.6 pct of their total loans.

Banks have agreed with regulators to reduce their NPE mountain by 38 pct to 66.7 billion euros by 2019.

"Eurobank committed to derisk its balance sheet by actively managing and reducing its NPL book. We are happy to conclude this transaction with the largest European credit management services provider," said Eurobank CEO Fokion Karavias.

Eurobank's deal with Intrum refers to a pool of non-performing...