UniCredit Sells Italian Non-Performing Loans Portfolio to Illimity Bank
October 21 2020 - 12:14PM
Dow Jones News
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)
Copyright (c) 2020 Dow Jones & Company, Inc.
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