INTESA SANPAOLO AND INTRUM FINALISE STRATEGIC AGREEMENT IN RESPECT OF NON-PERFORMING LOANS
Turin - Milan, 3 December 2018 – Following the obtainment of required authorisations from the relevant authorities, Intesa Sanpaolo and Intrum have finalised the agreement concerning the strategic partnership in respect of non-performing loans which was signed on 17 April 2018 and disclosed to the market on the same day. The agreement includes the creation of a servicing platform owned 51% by Intrum and 49% by Intesa Sanpaolo, and the disposal and securitisation of a bad-loan portfolio of the Intesa Sanpaolo Group.
The finalisation of the transaction generates a net capital gain of around €400 million for the Intesa Sanpaolo Group’s consolidated income statement in the fourth quarter of 2018.
Last updated 3 December 2018 at 17:00