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.
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