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Yapi Kredi sells non performing credit portfolio to a selection of asset management companies

UniCredit Group announces that Yapi Ve Kredi Bankasi AS ("Yapi Kredi"), its Istanbul-based jointly owned entity*, has reached an agreement (the "Transaction") with a selection of asset management companies in relation to the disposal of a non-performing loan (NPL) portfolio amounting to TL 518 million principal amount (approx. € 132 million).

 

The sale is part of the overall UniCredit Group's on-going strategy to reduce non-performing exposure ("NPE").

 

The Transaction will not impact UniCredit Group's NPE ratio, as  Yapi Kredi  is accounted for by the Equity Method.

 

 

Milan, June 23, 2017

 

 

*Note: Yapi Kredi is 81.8% owned by Koc Finansal Hizmetler AS, which is in turn 50% owned by UniCredit Group and 50% by Koç Group.

 

 

Enquiries

 

Investor Relations

Tel +39 02 88621872

e mail: investorrelations@unicredit.eu

 

Media Relations

Tel +39 02 88623569

e mail: mediarelations@unicredit.eu