Intesa Sanpaolo Considers Bad Loan Disposal, Intrum Confirms Talks -- Update
(Adds comment from Intrum on discussions with Intesa Sanpaolo.)
Intesa Sanpaolo SpA (ISP.MI) is considering a disposal of a bad loans portfolio in its upcoming business plan, the Italian lender said Wednesday following recent media reports.
"The bank is considering strategic options involving the NPL servicing activity that include a disposal of a bad loan portfolio of the group as part of the upcoming business plan," the company said in a statement.
This will not affect cash dividend for 2017.
"Such options do not modify the commitment of Intesa Sanpaolo to distribute EUR3.4 billion cash dividends for 2017, which is confirmed," the bank said.
Intesa Sanpaolo will report its 2017 results on Feb. 5.
Intrum, a credit-management company, said it was in discussions with the bank over the acquisition of a servicing platform and a portfolio of non-performing loans. "These discussions are at an early stage and no further details will be disclosed," Intrum said.
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(END) Dow Jones Newswires
January 10, 2018 12:51 ET (17:51 GMT)