Cepal completed the acquisition of Bank NPL from Alpha Bank.

Cepal, a company which specializes in providing servicing management for loan and credit receivables, completed the acquisition of Bank NPL from Alpha Bank, a Greek bank. Financial terms were not disclosed. “The carve out of the Bank’s NPE Management Unit onto CEPAL is yet another decisive step towards the implementation of the Strategic Plan that we announced last year, in order to radically rationalize our balance sheet. The forthcoming completion of Project Galaxy provides a strong competitive advantage to Alpha Bank allowing us to dedicate all our resources in fully supporting our Customers and focus our efforts in contributing to the Greek Economy’s return to a growth path," Mr. Vassilios Psaltis, Alpha Bank CEO.