Barclays Reportedly Initiates Search for Buyers for Approximately €5 Billion Worth of Italy Loans

Barclays Plc is seeking to sell about €5 billion ($5.3 billion) of Italian mortgage loans as part of plans to exit retail banking in the country.

The UK bank has started the sales process for a portfolio of mostly performing loans to individuals, people with knowledge of the matter said. The package also includes non performing mortgages and high risk loans in Swiss francs, according to the people. Potential bidders have until the end of this month to submit non-binding offers, they said, asking not to be identified as the plans are private.

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