UniCredit to Sell UTP Portfolio of Around EUR153 Million to Illimity Bank
November 11 2020 - 03:57AM
Dow Jones News
By Mauro Orru
UniCredit SpA said Wednesday that it has agreed to sell a
portfolio of Italian unlikely-to-pay exposures to Illimity Bank
SpA.
The Italian bank said the small-and-medium-enterprise secured
UTP portfolio has exposures with a gross claim value of around 153
million euros ($180.8 million).
The deal is part of UniCredit's strategy to reduce nonperforming
exposures. During the year, UniCredit and Illimity Bank reached
separate agreements for the disposal of portfolios of small- and
medium-enterprise nonperforming secured loans.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
November 11, 2020 03:42 ET (08:42 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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