ROME (dpa-AFX) - Intesa Sanpaolo SpA (SNPY.PK, IITSF.PK) is considering a sale of bad loans with a face value of 1 billion euros to 2 billion euros, Bloomberg reported citing two people familiar with the matter.
The report noted that Italy's second-largest lender is analyzing the debt to determine the final size and how to package loans for sale. The lender may start the process in the fourth quarter and complete the transaction at the start of 2017. The debt would include secured and unsecured loans to consumers and small firms, the report said, although a final decision hasn't been taken and the plan could change.
Copyright RTT News/dpa-AFX