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BRIEF-Banco BPM CEO says to pick new insurance partner in October

Published 15/09/2017, 09:07 pm
Updated 15/09/2017, 09:10 pm
© Reuters.  BRIEF-Banco BPM CEO says to pick new insurance partner in October

Sept 15 (Reuters) - Banco BPM CEO Giuseppe Castagna says:

* About to invite bids to sell two portfolios of unsecured loans worth 2 billion euros, there could be 40-50 potential bidders

* Hopes to close sale of the two portfolios by year-end

* Hired Prelios to conduct due diligence on 3-3.2 billion euro portfolio of both secured and unsecured loans to be sold in first few months of 2018

* Expects four binding offers for new bancassurance accord by the end of month, to pick new partner by end-October but will then need regulatory approval Further company coverage: BAMI.MI

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