By Sarah Sloat

Italy's Intesa Sanpaolo (ISP.MI) has signed a non-binding agreement with Prelios SpA (PLLRF) regarding the bank's review of strategic options for some non-performing loans, the Italian lender said Tuesday.

Asset-management and credit-servicing company Prelios has been granted a period of exclusive negotiations with a view to possibly forming a strategic partnership to optimize management of what Intesa calls "Unlikely-To-Pay" loans.

Any decision or possible partnership with Prelios would comply with targets and forecasts for Intesa's income statement and balance sheet for 2019, as well as the bank's 2018-2021 business plan, it said, and wouldn't affect the strategic partnership formed with Intrum AB (INTRUM.SK) on bad loans.

Write to Sarah Sloat at sarah.sloat@wsj.com

(END) Dow Jones Newswires

March 26, 2019 04:25 ET (08:25 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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