The procedures for the sale of the first portfolio of non-performing loans by the Housing Finance Organization (OCHS) have begun. The Organization proceeded with the announcement of a tender for the appointment of a consulting firm, with experts who will proceed with the required studies for the sale of loans. It is estimated that around the end of 2027 and the beginning of 2028, the HFC will proceed with the sale of non-performing loans amounting to €135 million. Based on previous positions of the Organization's management in Parliament, out of the total of these loans, non-performing loans account for in excess of €50 million. They concern mortgage financing, worth around €250,000. The remaining NPLs, amounting to approximately €85 million, concern loans that are eight years in arrears, i.e. have 96 overdue instalments. Therefore, the sale of the NPL portfolio will concern loans with arrears of 96 instalments or eight years and with a value of €250,000.
The provisions of the tender
According to the tender documents, the object of the contract is the purchase of consulting services by external consultants for legal, tax, accounting and other specialized services, for the implementation of the sale of an NPL Portfolio. As pointed out in the documents, the procedure and methodology to be followed must be in accordance with the requirements of the supervisory authorities/guidelines and be appropriately adapted to the data of the TOC.
The contract to be concluded by the Agency with the external experts should include seven points:
◆ Project Management Office ("PMO") support and transaction execution.
◆ Support in data quality and correction analysis and datatape preparation.
◆ Supporting the implementation plan of the transaction (sale of NPLs) including obtaining supervisory approvals.
◆ Accounting, Tax Support
◆ Legal support for legal and supervisory matters
◆ Preparation of a risk assessment for the sale of the NPL portfolio.
◆ Support in the operational transfer of Portfolio information (electronic and physical) to the successful bidder for the purchase of the Portfolio.
At €1.3 million. The cost of the contract
The estimated value of the contract is estimated at €1.3 million. including VAT. It should be noted that the duration of the contract is 20 months, with the contracting authority reserving the right to extend for an additional period of six months. According to the contract notice, the contract execution team should include four experts. These are the project manager, the project manager, the legal advisor and an expert expert in accounting and tax matters. It is worth noting that the project team, i.e. the four experts, will have to be staffed with four other external consultants. Interested parties will be able to submit a bid to eProcurement until September 4.
The Parliament will be informed
It should be noted that for all loan sales by the OCHS, the Parliament should be informed. An amendment incorporated into the law provides that the Organization informs in writing the members of the Parliamentary Committee on Finance of the amount of loans and the type of real estate that constitutes collateral for the loan, before the sale of the loan portfolio. The legislation was approved by the previous Parliament, in November 2023.
At €255.4 mil. The red loans
However, by the end of February 2026, the total loans with funds of the Organization were €643.3 million. At the end of 2025, the debt portfolio of the HFC was €647.2 million, compared to €657.4 million at the end of the previous year. In relation to non-performing loans, at the end of February 2026, they amounted to €255.4 million, which accounted for 39.7% of total loans. In December 2025 the amount of non-performing loans was 39.8% and in 2024 non-performing lending was 41.1%.
Finally, the total restructuring from 1/1/2024 to February 28, 2026 amounts to €85.5 million, of which loans of €50.6 million concern funds of the HFS, €23.1 million. loans with government funds and €11.8 million. with funds of the Central Agency for Equal Burden Distribution.
