Italian bad loan sales seen reaching 70bn euros in 2018

MILAN: Sales of bad bank loans in Italy could reach 70 billion euros ($82 billion) next year after totalling more than 60 billion euros so far in 2017, consultancy PwC said in a report

The estimate for next year includes a record 26 billion euro disposal which bailed-out bank Monte dei Paschi di Siena is working on but has yet to finalise

PwC sees 250 billion euros in impaired bank debts in Italy at the end of the year on a pro-forma basis, of which 151 billion euros are to borrowers who defaulted or are deemed insolvent, while 93 billion euros are so-called unlikely-to-pay loans.