CSFB buys up EUR300m of German NPLs
The deal is part of a trend for banks to sell off German NPLs to large foreign banks
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
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