The Italian market for bad loans is on track to post its best annual performance in a decade with sales of up to 10 billion euros ($11 billion) as medium-sized banks join bigger rivals in offloading non-performing loans.
Unlisted cooperative lender Veneto Banca and listed rival Banca Carige have put on the block two portfolios worth more than 1 billion euros each, two sources close to investors in distressed assets said, adding the transactions could be finalised by the year-end.
Arezzo-based Banca Popolare dell’Etruria e del Lazio is also in talks with investors to sell a chunk of bad loans, a third source said.
Banca Carige and Popolare Etruria declined to comment on the issue, while a spokesman at Veneto Banca said that there were several options on the table, adding the bank was studying market conditions for different amounts.
