UniCredit Sells $1.36 Billion Nonperforming Loans Portfolio to Illimity Bank
June 30 2022 - 2:54AM
Dow Jones News
By Pierre Bertrand
UniCredit SpA said Thursday that it has reached an agreement
with Illimity Bank SpA to sell a mixed nonperforming loans
portfolio worth roughly 1.3 billion euros ($1.36 billion).
The Italian bank said the impact of the sale would be registered
in its financial statements for the second quarter.
The company said the sale falls within its strategy to reduce
nonperforming exposures.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
June 30, 2022 02:39 ET (06:39 GMT)
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