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UniCredit announces the sale of an Italian Consumer unsecured non performing credit portfolio

UniCredit today has reached an agreement with MBCredit Solutions ("MBCS") in relation to the disposal on a non-recourse basis (pro-soluto) of a non performing unsecured consumer credit portfolio, in Italy.

 

The portfolio consists entirely of Italian unsecured consumer credits with a gross book value of approximately €124 million. The impact will be reflected in the second quarter 2018 financial statements.

 

UniCredit and MBCS have also reached an agreement for the disposal of up to €80 million of Italian unsecured consumer loans of the same nature, originated from second quarter 2018 to the end of the year.

 

The agreement is part of UniCredit's on-going strategy to reduce non performing exposures.

 

 

Milan, June 20, 2018

 

 

 

Enquiries

 

Investor Relations

Tel +39 02 88624324

e mail: investorrelations@unicredit.eu

 

Media Relations

Tel +39 02 88623569

e mail: mediarelations@unicredit.eu