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UniCredit Bank Hungary and UniCredit Jelzalogbank sold non performing credit portfolio composed of retail mortgages

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

 

 

 

Enquiries

 

Investor Relations

Tel +39 02 88624324

e mail: investorrelations@unicredit.eu

 

Media Relations

Tel +39 02 88623569

e mail: mediarelations@unicredit.eu