|Day's Range||16.46 - 16.91|
|52 Week Range||8.72 - 17.75|
|PE Ratio (TTM)||-0.83|
|Dividend & Yield||0.00 (0.00%)|
|1y Target Est||N/A|
Italian bank UniCredit (CRDI.MI) has signed a final agreement with U.S. funds Fortress (FIG.N) and Pimco on the sale of bad loans worth 17.7 billion euros ($20 billion) in Italy's biggest such deal so far. UniCredit has led clean-up efforts among Italian banks which have been left with billions of euros of bad loans following the country's deep recession. Morgan Stanley analysts estimated on Monday that at the current rate of rundown it would take Italian banks some 10 years to lower the share of soured debt over total loans to 5 percent.
UniCredit has finalised an expected deal for Pimco and Fortress to buy ?17.7bn of the Italian bank's bad loans, a transaction key to shoring up investor confidence in the country's troubled banking sector. ...
Italian bank UniCredit said it has signed a definitive agreement with Pacific Investment Management Co. and Fortress Investment Group for the sale of 17.7 billion euros worth of bad loans.