Europe Bank Cleanup Driving $1.72 Trillion of Asset Sales

Europe’s largest banks are finally putting hundreds of billions of dollars of unwanted assets up for sale amid mounting competition among buyers and regulatory pressure. A wave of deals could be a boon to the region’s economy if the banks free up capital to increase lending.

Banks led by London-based Barclays Plc (BARC) and including UniCredit SpA in Milan and Credit Suisse Group AG (CSGN) in Zurich, have shunted more businesses, bad loans and spoiled investments into units to be sold or wound down. Such assets jumped by 65 percent since the end of 2013, to more than $1.72 trillion, according to data compiled by Bloomberg.

http://www.bloomberg.com/news/2014-08-25/europe-bank-cleanup-driving-1-72-trillion-of-asset-sales.html

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