Source: | Sunday, 09.02.2014.| 21:08
Highlight an article Print out the news

Intesa and UniCredit to set up fund for non-performing loans

Italy's top two banks, Intesa Sanpaolo and UniCredit, are in preliminary talks with U.S. investor KKR about setting up a fund to hold some of their bad debts, Reuters reports.

(Photo: I.Vukša)
Such a vehicle would help Italian lenders to tackle loans that have soured over years of economic stagnation and clean up balance sheets as European regulators conduct a health check of euro zone lenders.

Potentially, this would make it possible for KKR to benefit from the recovery of Italy's economy.

According to some other sources, this initiative is focused on so-called restructured loans that were already discussed before. In late September, before the write-off, such loans at UniCredit Banca and Intesa Sanpaolo amounted to EUR 8.1 billion and EUR 2.5 billion, respectively.

The banks declined to comment, while KKR was unavailable.

Only logged-in users can comment.
Follow the news, tenders, grants, legal regulations and reports on our portal.
Testiraj besplatno!
Register for our daily business bulletin, which is sent to your email address at the end of each work day.
Full information is available only to commercial users-subscribers and it is necessary to log in.
Test for free!
Testiraj besplatno!
Full information is available to commercial users-subscribers only.
Testiraj besplatno!

Log in to view complete information:
Forgot your password? Click here HERE
For free test use, click HERE