trending Market Intelligence /marketintelligence/en/news-insights/trending/h7O_HC6Ob1UwQhbBJYZ9LA2 content esgSubNav
In This List

Report: Banca Monte dei Paschi di Siena in talks to sell €2.1B of bad debt

Blog

Balance Sheet Strategy in an Unusual Rate Environment

Blog

Investors' Views of the Industry Today & the Outlook for Tomorrow

Podcast

Street Talk | Episode 98: Regulatory scrutiny having cooling effect on community bank M&A

Blog

Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion


Report: Banca Monte dei Paschi di Siena in talks to sell €2.1B of bad debt

Banca Monte dei Paschi di Siena SpA could soon finalize the sale of €2.1 billion worth of bad loans — called Project Merlino — to Banca IFIS SpA and Credito Fondiario SpA, among other investors, people with knowledge of the matter told Bloomberg News.

Project Merlino consists of four portfolios mainly made up of unsecured loans, the people told Bloomberg, adding that Banca Ifis and Credito Fondiario have submitted binding offers for portions of the debt. They said an official announcement could come as early as the week of Dec. 24.

The sale is part of Monte dei Paschi's ongoing balance sheet cleanup. The lender intends to get rid of €3.7 billion of nonperforming loans in the coming months, Bloomberg noted.