Greek Eurobank's subsidiaries agree sale of bad loans portfolio

ATHENS (Reuters) - Eurobank said on Friday its Romanian and Dutch subsidiaries had agreed to sell a portfolio of non-performing loans worth 170 million euros (£132 million) as part of the Greek lender's efforts to strengthen its balance sheet.

Eurobank, which is 2.4 percent owned by Greece's HFSF bank rescue fund following its recapitalisation late last year, said this week that loans in arrears for more than 90 days had dropped to 34.8 percent of its loan book from 35.2 percent in the last quarter of 2015.

Eurobank said Romanian subsidiaries Bancpost and ERB Retail Services, and Dutch ERB New Europe Funding, had agreed to sell the portfolio to ProsperoCapita, which is funded by a consortium consisting of the International Finance Corporation and Kruk.

The deal was subject to the approval of the Romanian Competition Council, the bank said.

(Reporting by Karolina Tagaris; editing by David Clarke)