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UniCredit announces the sale of an Italian non-performing loans portfolio composed by loans to small & medium sizes enterprises

UniCredit today announces that has reached an agreement with IFIS NPL (Banca IFIS Group) in regards to the disposal, on a non-recourse basis (pro-soluto), of a non-performing loan portfolio composed by loans to small and medium sized enterprises "SMEs" ("the Portfolio").

 

The Portfolio consists entirely of Italian credits owned by UniCredit SpA with an aggregate claim value of approximately €1.09 billion (of which gross book value of approximately €870 million) as of 31 December 2017. The Portfolio includes unsecured claims as well as claims secured by personal guarantees and / or by second / junior ranking mortgages.

 

The agreement is part of UniCredit's on-going strategy to reduce non performing exposures and the impact is expected in the third quarter 2018 financial accounts.

 

 

Milan, September 21, 2018

 

 

 

Enquiries

 

Investor Relations

Tel +39 02 88621034

e mail: investorrelations@unicredit.eu

 

Media Relations

Tel +39 02 88623569

e mail: mediarelations@unicredit.eu