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Hospital bank plans further debt sales

Hospital bank Slovenská Konsolidačná has announced plans to sell another 30-40 billion crown package of classified claims from former state banks in September, after disposing of 13 billion crowns ($260 million) worth last month.

More than 90 billion crowns in bad loans was taken from former and existing state banks over the last 18 months by the government and put into Konsolidačná prior to privatisations in the sector.

Analysts have said that the hospital bank will get back as little as 10% of the value of the total debts from their sale.

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