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UniCredit announces the sale of an Italian SME non performing credit portfolio

 

UniCredit today has  reached an agreement with Balbec Asset Management ("Balbec") in relation to the disposal on a non-recourse basis (pro-soluto) of a non performing unsecured Italian SME loans credit portfolio.

 

The portfolio consists entirely of Italian loans with a gross book value of approximately €570

million.

 

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 Q3 2016 balance sheet.