Banca MPS continues its derisking process and sells around euro 340 million in non-performing loans
A further 4 transactions have been completed, taking the total of Non-Performing Exposures (NPEs) sold in the last two weeks to almost Euro 1.5 billion
Banca Monte dei Paschi di Siena is continuing its derisking process, completing a further 4 transactions for the sale of non-performing loans for approximately Euro 340 million. The transactions are in addition to those recently finalised with Illimity Bank (31 July) and with a subsidiary of Cerberus Capital Management L.P. (1 August) and brings the total of non-performing exposures (NPEs) sold by the bank in the last two weeks to almost Euro 1.5 billion.
The deals in question involve the sale of a mix of secured and unsecured bad loans for a total of Euro 137 million as well as three transactions in mainly secured Unlikely-to-Pay exposures in the Banca Mps and Mps Capital Services portfolios, in the amount of Euro 202 million.
The successful completion of these transactions represents a further and significant step forward in accelerating the derisking process envisaged by the 2017-2021 Restructuring Plan and complying with the commitments undertaken with the European Commission.
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