Monte Paschi looking to sell 1 bln euro non-performing consumer loans-sources

April 10, 2015 6:03 PM

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MILAN, April 10 (Reuters) - Italy's Monte dei Paschi di Siena is looking to sell around 1 billion euros ($1.1 billion) in non-performing loans originally granted by its consumer credit unit, three sources with knowledge of the matter said on Friday, as the bank seeks to boost its financial strength.

The bank, which emerged as the weakest lender in a Europe-wide health check of the sector last year, had initially sought to sell the whole Consum.it unit but was forced to shelve the plan.

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