BGŻ BNP sells PLN 2.3 bln loan portfolios

WSE-listed bank BGŻ BNP signed a number of securitization agreements for its cash and automotive loan portfolios worth some PLN 2.3 billion. Thanks to deals, lender plans to improve its consolidated CET1 and Tier1 ratios by 0.34 percentage points and TCR by 0.44 pps. It will also improve its liquidity, the bank said in its market filing. The lender will sell the portfolio to an SPV registered in Ireland, which has no capital or organizational ties with BGŻ. It will finance the purchase from a bond issue and the lender will not buy the papers. BGŻ BNP Paribas reserved the right to sell further cash or automotive loans during a 2-year revolving period set under the agreement.