IF Banca IFIS Spa

By Pietro Lombardi

UniCredit SpA has reached an agreement with Banca Ifis SpA for the sale of a bad-loan portfolio with claim value of roughly 155 million euros ($174.4 million).

The portfolio is made up of Italian unsecured individual loans and the impact of the deal will be reported in the second-quarter results, UniCredit said Thursday.

The parties also reached another agreement, under which UniCredit will sell up to EUR180 million of Italian unsecured consumer loans originating this year to Banca Ifis. Of these, EUR30 million were already sold in June.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

July 02, 2020 03:11 ET (07:11 GMT)

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