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The subsidiary Cerved Credit Management Group has signed an agreement with Barclays to manage a mortgage portfolio
San Donato Milanese, 20 April 2017 – Cerved Information Solutions S.p.A. (MTA: CERV) – parent holding company of the Cerved group (“Cerved Group”), the largest information provider and credit servicer in Italy – announces that the subsidiary Cerved Credit Management Group has today signed an agreement with Barclays Bank PLC according to which Cerved Group will be in charge, on an exclusive basis, for the coordination of the servicing activities related to the mortgage portfolio of approximately 11.4 billion Euros starting from June 2017. This agreement follows the signing of a letter of intent on 7 February 2017.
Marco Nespolo, Chief Executive Officer of the Cerved Group, commented: "We are honoured that Barclays has chosen Cerved Group for a transaction of such strategic relevance. The management of performing exposures for large financial players is becoming an important segment for Cerved”.