UniCredit: sells non-performing loan portfolio

(CercleFinance.com) - UniCredit said it has agreed to sell a 1.
3 billion euros Italian portfolio of non-performing loans to a securitisation vehicle managed by fellow bank illimity.

The Italian lender said the disposal is part of its ongoing strategy to reduce non-performing exposures.

The impact will be registered in its second-quarter results, it added.

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