(Visited 98 times, 1 visits today)
(Visited 98 times, 1 visits today)

Unicredit selling the Milano-Amalfi portfolio

08 November, Il Sole 24 Ore

Unicredit aims at completing two major NPL disposal operations by the end of the month. After having sold bad loans for over one billion euro to Banca Ifis with the Torino project, now the bank is about to put on the market NPLs for over two billion euro. The portfolios are named Milano, consisting of secured NPLs for 750 million, and Amalfi, unsecured loans valued 600 million. Kpmg is the advisor for both portfolios. The binding offers are expected by the end of the month. Among the candidates, there are allegedly the American funds Bain Capital Credit and Cerberus.

During the last meeting with the analysts, Unicredit announced that its NPL optimisation process is proceeding according to the schedule set on the business plan. The gross exposure to bad loans decreased by 7.5 billion and set at 22.2 billion euro in the second quarter. The total gross impaired exposures are expected to drop to 19 billion by the end of the year with a target of transfers for 2 billion. The Bank’s Board of Directors will gather today, and it will present its quarterly report the following day.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

(Visited 98 times, 1 visits today)

Read more:
Settimo Cielo doubles. The expansion works will be completed by 2018

25 October, La Stampa A 35 shops arcade coming soon It will be one of the biggest retail parks in...

Close