Enter multiple symbols separated by commas

Unicredit to sell $1.3 billion of non-performing loans

UniCredit said on Tuesday it reached a deal with Cerberus European Investments to sell a portfolio of non-performing loans with a gross value of around 950 million euros ($1.3 billion).

Vladimir Weiss | Bloomberg via Getty Images

The transaction, which will have an impact on the lender's balance sheet in the first quarter of next year, is part of a strategy to sell assets, the Italian bank said in a statement.

Follow us on Twitter: @CNBCWorld

Contact Europe News


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Europe Video

  • US growth disappoints

    Lindsey Piegza, chief economist at Stifel Fixed Income, discusses U.S. GDP growth in the second quarter and when the Federal Reserve will raise interest rates.

  • Fed to hike rates by year-end?

    David Bloom, global head of foreign exchange strategy at HSBC, discusses the euro/dollar and when the Federal Reserve may raise interest rates.

  • The next stage for Facebook?

    Cathie Wood, CEO of ARK Investments, says Facebook needs to invest in the "huge opportunities" that are Instagram, Whatsapp and Messenger, to generate more users.