Romanian lender BCR sells EUR 2 bln worth of bad loans

Romanian lender BCR has put up for sale non-performing loans worth EUR 2 billion. At the end of the first quarter of 2015, BCR recorded bad loans of EUR 2.1 billion. In 2014, the bank sold non-performing loans of EUR 450 million, reducing the bad loans by almost a quarter compared to 2013, reports local Economica.net. The non-performing loan ratio dropped to 25.7%, whereas the coverage rate of bad loans went up to 75.8%. BCR posted last year a loss of EUR 630 million, after it recorded a profit of EUR 135 million in 2013. In 2014, it created provisions of EUR 1 billion to clean its bad loans. editor@romania-insider.com