UniCredit Sells EUR730 Million Bad Loan Portfolio
27 September 2019 - 4:25PM
Dow Jones News
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)
Copyright (c) 2019 Dow Jones & Company, Inc.
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