Serbia invites bids for 1.82 bln euro NPL portfolio

Investors can submit letters of interest by November 8 and the deadline for placing non-binding bids expires on December 2, the finance ministry said in a statement on Monday. 

The deadline for submission of binding offers is April 15, 2020, the finance ministry said.

The sale of NPLs was part of Serbia's 30-month Policy Coordination Instrument (PCI) with the International Monetary Fund (IMF), finance minister Sinisa Mali said in the statement. "In this way we are releasing property that has been trapped for years, which will return to the economic flows," he added.

In February, the finance ministry picked the 11.3 million euro offer by German financial company EOS Matrix in its first tender for the sale of a portfolio of NPLs. The portfolio included 240 million euro loans of Serbia's insolvent lenders Agrobanka, Nova Agrobanka, Univerzal Banka, Privredna Banka Beograd and Razvojna Banka Vojvodine.

 ($ = 0.9183 euro)