By Pietro Lombardi

UniCredit SpA (UCG.MI) has reached an agreement with Illimity SpA to sell a 730 million euros ($798.6 million) portfolio of nonperfoming loans.

The portfolio consists of secured loans to Italian small and medium firms, the Italian bank said Friday.

The impact of the sale, which is part of the bank's strategy to cut nonperforming exposures, will be reported in its third-quarter results.

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

(END) Dow Jones Newswires

September 27, 2019 02:10 ET (06:10 GMT)

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