Intrum AB (INTRUM.ST)
20 Aug 2018
(This version of the story corrects end-March soured loan level to 20.5 percent (not 24.6 pct) in para. 10)
MILAN, May 31 Italy's third largest bank, Banco BPM, is looking to sell part of its debt servicing unit as it strives to meet its bad-loan reduction goals two years ahead of time, sources familiar with the matter said.
MILAN, May 16 Polish debt collector KRUK targets increasing bad loans under management at its recently acquired debt recovery company in Italy, Agecredit, by nearly eight times to 3 billion euros ($3.5 billion) by 2021.
MILAN, May 15 Italy's Banca IFIS has agreed to buy rival FBS as it expands its collection business beyond a traditional focus on unsecured loans to include corporate and property-backed debt.
(Corrects conversion of 69.94 billion rupees to 870 million euros, not 87 million euros) The following factors could affect Italian markets on Monday.
The following factors could affect Italian markets on Wednesday.
MILAN Intesa SanPaolo's deal with Sweden's Intrum Justitia shows bad loans can be sold without a loss and will help Italian lenders turn a corner after "a perfect storm" of fire sales, CEO Carlo Messina said.
* Intesa, Intrum to create Italian debt servicing company (Recasts after press conference)
* STATE GUARANTEE NOT NECESSARY FOR SENIOR TRANCHE IN BAD LOAN SECURITISATION
* INTRUM AND INTESA SANPAOLO ENTER INTO A LONG TERM STRATEGIC PARTNERSHIP, CREATING A MARKET LEADING SERVICER OF NON-PERFORMING LOANS IN ITALY