CSFB buys more German NPLs
CSFB has bought a €300 million loan portfolio from the German mortgage bank Deutsche Genossenschafts-Hypothekenbank (DG HYP).
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 active since last year, with several banks, including Dresdner and Hypo Real Estate (HRE), selling off NPL portfolios to foreign investors as part of restructuring efforts. The total notional value of German NPLs is estimated at up to €300 billion.
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