Monte dei Paschi sells €690m of NPLs and UTPs to Illimity Bank
Banca Monte dei Paschi di Siena (MPS) has completed the sale of two portfolios of non-performing and unlikely to pay loans to further derisk its balance sheet and complete a planned restructuring, selling almost €700m to Illimity Bank.
The first portfolio sold off is approximately €240m and includes both secured and unsecured loans originally backed by an ISMEA guarantee.The second transaction concerns the sale of unlikely-to-pay (UTP) loans owned by Banca MPS and MPS Capital Services. The portfolio being sold equals €450m and includes ...
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