* NPL ratio falls to 8 pct
* Parent bank required to sell Romanian unit by 2015
BUCHAREST, July 28 Volksbank Romania, controlled
by Austria's partly nationalised lender Volksbanken AG
, has sold 495 million euros ($664.98 million) worth
of non-performing loans at an undisclosed discount, it said on
The loans were sold to a consortium made of Deutsche Bank,
AnaCap Financial Partners LLP, H.I.G Capital International
Advisers and APS Holding SE. It lowered the loss-making bank's
ratio of non-performing loans to 8 percent, three times below
the average in Romania's banking system.
The bank's non-performing loans totalled about 599 million
euros at the end of 2013.
Parent Volksbanken AG needs to sell its 51 percent stake in
its Romanian banking business - which it has entirely written
down - by the end of 2015, as one condition of the state support
it received at the height of the financial crisis.
"This transaction is the first of its kind on the Romanian
market," Volksbank vice president Alexander Tscherteu said in a
statement. "Other banks will surely follow."
The portfolio of 3,566 loans was backed primarily by
residential and commercial real estate and development land,
said AnaCap Financial Partners, part of the consortium and a
specialist private equity investor.
"The transaction ... came about as a result of the ongoing
pressure on financial institutions across Europe to restructure
and divest assets in order to clean up balance sheets and comply
with new capital requirements," AnaCap said in a statement.
Romania's central bank has encouraged local banks to clean
up their balance sheets by selling non-performing loans, which
make up about 22 percent of the banks' total loan portfolio.
($1 = 0.7444 Euros)
(Reporting by Luiza Ilie; Editing by Larry King)