UniCredit: sells non-performing portfolio to Illimity

(CercleFinance.com) - Italy's UniCredit said on Wednesday that it had agreed to sell a portfolio of non-performing loans to its peer Illimity.


The portfolio consists of secured credits that were made to Italian SMEs, worth a total of about 153 million euros gross, the lender said.

The impact of the divestment has already been booked in third quarter results, UniCredit said, adding that the deal is part of its strategy to reduce non-performing exposures.

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