UniCredit announces that UniCredit Bank Hungary and UniCredit Jelzálogbank have concluded an agreement in relation to the disposal on a non-recourse basis (pro-soluto) of a portfolio composed of retail mortgage receivables with a locally-licensed Hungarian financial enterprise, EOS Faktor Zrt.
The portfolio consists entirely of Hungarian loans. The total claim - gross of write offs - value of the portfolio is approximately EUR 44.3 million (HUF 13.6 billion).
The sale is part of the overall UniCredit Group's on-going strategy to reduce non performing exposure ("NPE").
The impact will be reflected in fourth quarter 2017 accounts.
Milan/Budapest, 4 December, 2017
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