Ceska sporitelna, Erste's 98%-owned Czech subsidiary, announced yesterday that it sold CZK 12.4 bil. (EUR 393 mil.) worth of non-performing assets (reportedly 26,000 of retail loans) to JP Morgan. The assets were fully provisioned; the selling price was not disclosed. Nevertheless, the Czech Press Agency reported that the price should amount to CZK 775 mil. (EUR 25 mil.). Positive.
Jan Hájek