Norion Bank Sells SEK 6.2B Gross NPL Portfolio, CET1 Expected to Rise
Norion Bank will sell an NPL portfolio with a gross value of about SEK 6.2 billion for roughly SEK 2.6 billion, above its book value. The deal is not expected to materially affect results at completion, while CET1 should rise about 1.5 percentage points. Excess capital is estimated to increase by around SEK 900 million, though operating profit may fall by about SEK 100 million over 12 months.