Issue link: https://maltatoday.uberflip.com/i/1509516
5 NEWS 12.10.2023 KURT SANSONE BANK of Valletta is in "advanced talks" to sell part of its portfolio of long-stand- ing non-performing loans, the company said on Wednesday. e bank did not quantify the portion of non-performing loan portfolio it was selling or what percentage it represents. Neither did it give details as to the po- tential buyers. BOV's annual report for 2022 put the group's non-performing portfolio at €204 million of which €93 million were forborne. Non-performing exposures constitut- ed 3.5% of the bank's total loan port- folio, which stood at a staggering €5.6 billion. In its statement on Wednesday the bank said the sale of part of its non-per- forming loans was intended to "strength- en its capital and liquidity buffers". "In selecting the Portfolio of non-per- forming loans, the Bank has followed a rigorous process using predefined crite- ria," BOV said. It added the portfolio being put up for sale does not include loans where the underlying borrowers defaulted on their obligations for health-related reasons. BOV said that the portfolio in question contains loans, which over several years, the bank took steps to recover the out- standing amounts owed and clients de- faulted on their obligations and agreed terms on multiple occasions. e bank said it will keep the market informed of any developments as they arise and will consequently publish fur- ther details in due course. Bank of Valletta to sell part of its non-performing loan portfolio BOV says it is in 'advanced talks' to sell part of its portfolio of non-performing loans pertaining to customers who have defaulted on obligations and terms on multiple occasions over several years Radisson Blu Resort & Spa, Malta Golden Sands recognised as Malta's Leading Resort 2023 RADISSON Blu Resort & Spa, Malta Golden Sands, a leading luxury resort nestled in the picturesque Golden Bay, was recognised as Malta's Leading Resort 2023 at the 30th Annual World Travel Awards ceremo- ny. e award was given in rec- ognition of the resort's com- mitment to excellence in hos- pitality and exceptional guest experiences. e Malta's Leading Resort 2023 award, presented annual- ly by the World Travel Awards, is one of the most reputable ac- colades in the travel and hospi- tality industry. It acknowledges resorts that have consistently demonstrat- ed outstanding dedication to delivering exceptional service, luxurious accommodations, and memorable guest experi- ences. Radisson Blu Resort & Spa, Malta Golden Sands stood out among a highly competitive field of contenders thanks to its amenities, stunning natural surroundings, and the dedica- tion of its team members. is award reflects the tire- less efforts of our entire team to create a haven of relaxation and indulgence for our valued guests. The Radisson Blu Resort & Spa, Malta Golden Sands, in Golden Bay