B2Holding has through its Cypriot entity B2Kapital Cyprus, in a partnership with Waterfall Asset Management signed an agreement with Bank of Cyprus Public Company Ltd. for the acquisition of an unsecured non-performing loan portfolio. The portfolio has a Face Value of EUR 400m and consists of a mix of loan products issued to individuals and small businesses. The entire portfolio will be serviced by B2Kapital Cyprus. Established in 2017, B2Kapital Cyprus is already servicing a mixed non-performing loan portfolio with secured and unsecured SMEs. With around EUR 6.5bn of NPLs in Cyprus, B2Holding’s mission is to further grow the local platform and to present a credible alternative provider in the servicing and acquisition of non-performing loans. “Developing our servicing platforms is a major focus for the B2Holding Group in 2020. The successful completion of this transaction will support this target", says Erik Just Johnsen, Interim CEO of B2Holding ASA. For enquiries regarding the transaction, please contact: Erik J Johnsen Interim CEO. Telephone: +47 415 77 055 Email: ejj@b2holding.no
