Siena, 23 June 2015

Banca Monte dei Paschi di Siena S.p.A. ("BMPS") signed a binding agreement for the disposal pro soluto of a non performing loan portfolio consisting of consumer credits, personal loans, credit cards, originated by Consum.it to Banca IFIS S.p.A. and a securitization vehicle financed by an affiliate of Cerberus Capital Management, L.P..

The portfolio is composed of almost 135,000 borrowers with a total book value, gross of provisions, of approx. Euro 1 billion (Euro 1.3 billion including default interests and / or other charges that are transferred along with the capital).

Impact of the disposal on BMPS' profit and loss and balance sheet is negligible, while administrative and management benefits would be significant in light of number of the positions included in the portfolio being sold.

The disposal is part of BMPS's Business Plan 2015-2018 which includes numerous management actions to increase the recovery rates of non performing loans and the cure rates of substandard loans, including multi-annual and structured disposal process of non performing loans of approx. Euro 5,5 billion to be carried out in 2015-2018, of which approx. Euro 1 billion originated by Consum.it.

The disposal of non performing loans originated by Consum.it (currently merged by absorption in BMPS) reflects not only to the indications received by the European Central Bank (ECB) on asset quality, but also the commitments taken with DG Competition of the European Commission in the context of the Restructuring Plan.

Closing of the transaction is expected before 30 June 2015.

For further information:

Media Relations
Tel.:
ufficio.stampa@mps.it

Investor Relations
Tel.:
investor.relations@mps.it

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