MADRID (Reuters) - Spanish lender Abanca said on Monday it had sold a portfolio of bad loans without mortgage collateral worth 1.38 billion euros (1.09 billion pounds) to debt collection specialist EOS Spain.
Abanca, based in the northwestern region of Galicia, said in a statement that the deal would have a positive impact on its solvency levels since it had already provisioned the loans.
The bank, formerly known as NCG Banco, said it was looking at similar deals to get rid of non-strategic assets and focus on lending to businesses and households.
(Reporting by Angus Berwick; Editing by Alexander Smith)
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