MPS sells non-performing exposures to Cerberus for eur 455 million
This transaction joins the one signed with Illimity Bank yesterday, 31 July, bringing the grand total of loans sold in a few days to EUR 1.15 billion
On 31 July Banca Monte dei Paschi di Siena finalised the sale of non-performing exposures for about EUR 455 million to a subsidiary of Cerberus Capital Management L.P..
The agreement concerns the sale of unlikely-to-pay exposures owned by Banca MPS and MPS Capital Services and the portfolio mainly includes secured loans to corporate customers.
This agreement is in addition to those for around EUR 700 million reached with Illimity Bank on 31 July, thus bringing the grand total of non-performing exposures sold by Banca MPS in a few days to EUR 1.15 billion.
The successful completion of these transactions represents a further and significant step forward in the acceleration of the derisking process envisaged by the 2017-2021 Restructuring Plan and in complying with the commitments made with the European Commission.
For further information:
Relazioni Media
Tel: +39 0577 296634
ufficio.stampa@mps.it
Investor Relations
Tel: +39 0577 293038
investor.relations@mps.it
