By Olivia Bugault

 

UniCredit SpA said Wednesday that it has agreed to sell a portfolio of small- and medium-enterprise non-performing secured loans to Illimity Bank SpA.

The portfolio consists of Italian exposures with a total gross claim value of roughly 692 million euros ($818.2 million), the Italian bank said.

UniCredit added that the disposal is already accounted in the results of its third quarter.

 

Write to Olivia Bugault at olivia.bugault@wsj.com

 

(END) Dow Jones Newswires

October 21, 2020 11:59 ET (15:59 GMT)

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