CSFB buys up EUR300m of German NPLs

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CSFB has bought a EUR300 million loan portfolio from the German mortgage bank Deutsche Genossenschafts-Hypothekenbank (DG HYP). The portfolio consists of about 3,000 loans, the majority of which are non-performing, CSFB says. CSFB believes it has become one of the leading participants in the German non-performing loan (NPL) market - this is its fourth NPL portfolio purchase this year.

The German NPL market has been very active since last year, with several banks, including Dresdner and Hypo R

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