UniCredit announces to have reached an agreement yesterday with PRA Group Europe ("PRA") in relation to the disposal on non-recourse basis (pro-soluto) of a non performing unsecured consumer, overdraft and personal loan credit portfolio.
The portfolio consists entirely of Italian loans with a gross book value of approximately €625 million and with a coverage in excess of 85%. The sale is part of UniCredit's on-going activities to sell non-core assets and strengthen its credit profile.
The impact will be reflected in H1 2015 balance sheet.
Milan, June 30, 2015