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)

Copyright (c) 2020 Dow Jones & Company, Inc.
Banca Ifis (BIT:IF)
Historical Stock Chart
From Jul 2020 to Aug 2020 Click Here for more Banca Ifis Charts.
Banca Ifis (BIT:IF)
Historical Stock Chart
From Aug 2019 to Aug 2020 Click Here for more Banca Ifis Charts.