Thursday June 26, 02:31 PM
Caja Madrid, CAM plan 700 mln euro NPL sale-sources
LONDON June 26 (Reuters (LSE: TRIL.L - news) ) - Spanish savings banks Caja Madrid and Caja de Ahorros del Mediterraneo (CAM) are planning a sale of non-performing loans (NPLs), people familiar with the situation said on Thursday.
The sale could be worth as much as 700 million euros ($1.10 billion), as Caja Madrid's portfolio has been valued at between 200 and 300 million euros, while CAM's NPL sale could be worth 400 million euros, one of the sources told Reuters.
'The two processes are ongoing, by auction,' one of the sources said.
A Caja Madrid spokesperson declined to comment.
((With additional reporting by Carlos Ruano in Madrid.) ($1=.6452 Euro) ($1=.6381 Euro)
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