Monte dei Paschi sells €690m of NPLs and UTPs to Illimity Bank

Tom Brown

July 31, 2019 06:00 PM

Monte_dei_Paschi_AP_230x150 — A view of a window of a Monte Dei Paschi di Siena bank in Milan, Italy, Wednesday, May 9, 2012. Italian bank Monte dei Paschi di Siena have tumbled Shares of the Italian bank Monte dei Paschi di Siena have tumbled after financial police searched its offices in connection with a market rigging probe in the 2007 acquisition of Banca Antonveneta SpA. (AP Photo/Luca Bruno) | Luca Bruno/AP

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.

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Tom Brown