December 19, 2016 / 8:42 AM / 7 months ago

BRIEF-Creval sells unlikely-to-pay loans at 43 pct of nominal value

1 Min Read

Dec 19 (Reuters) - Banca Piccolo Credito Valtellinese says:

* Reached accord to sell portfolio of secured non-performing loans with a gross book value of 105 million euros ($109.87 million) to an institutional investor

* Portfolio being sold at around 43 percent of its gross book value

* Impact of disposal already included in CET1 guidance for current fiscal year

* Portfolio comprises almost exclusively unlikely-to-pay loans mostly granted to real estate firms and backed by residential properties. It includes also mortgages granted to individuals and to retail businesses. Further company coverage: ($1 = 0.9557 euros) (Reporting by Milan Newsroom)

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