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Banca Valsabbina sells €150M bad-loan portfolio to Guber Banca, Barclays Bank

Banca Valsabbina SCpA has sold a nonperforming loan portfolio worth roughly €150 million to fellow Italy-based Guber Banca SpA and Barclays PLC unit Barclays Bank PLC, Reuters reported Jan. 8.

The portfolio will be acquired via a securitization vehicle, according to Guber Banca, which now manages approximately €9 billion in loans after getting a banking license from the ECB in 2018, the report said.

Italian banks have gotten rid of roughly €130 billion in defaulted loans over the past two years due to regulatory pressure, Reuters said.