Hellenic Bank Public Company Limited (CSE:HB) entered into an agreement to acquire Performing loan portfolio of RCB Bank Ltd on March 22, 2022. The Transaction involves a performing loan portfolio of gross book value of €556 million, related cash collateral and other credit balances1 of €89 million and letters of guarantee of €23 million. The loan portfolio comprises: Tranche A (relating to only Cypriot exposures) of €292 million and Tranche B of €264 million.

Transaction is subject to relevant due diligence, final agreement and all relevant regulatory approvals. The acquisition of Tranche A is expected to be completed by March 24, 2022, while the acquisition of Tranche B is expected to be completed by May 31, 2022. On March 24, 2022, The European Central Bank approved the sale of the bank's €556 million performing loan portfolio to Hellenic Bank with some regulatory restrictions.

As of March 24, 2022, Bank has completed the acquisition of Tranche A of the the performing loan portfolio from RCB Bank Limited. As of June 20, 2022, Bank has completed the acquisition of Tranche B of the the performing loan portfolio from RCB Bank Limited. KPMG acted as the Hellenic Bank Financial Advisor and Georgiades & Pelides LLC as the Hellenic Bank Legal Advisor.