By Olivia Bugault
UniCredit SpA said Wednesday that it has agreed to sell a portfolio of small- and medium-enterprise non-performing secured loans to Illimity Bank SpA.
The portfolio consists of Italian exposures with a total gross claim value of roughly 692 million euros ($818.2 million), the Italian bank said.
UniCredit added that the disposal is already accounted in the results of its third quarter.
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(END) Dow Jones Newswires