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UniCredit announces the sale of an Italian Small Medium Enterprise unsecured non-performing loans portfolio of €1.1 billion

UniCredit announces today an agreement with a securitisation vehicle financed by SPF Investment Management, L.P. in relation to the sale of an Italian Small and Medium Enterprise non-performing unsecured loans portfolio, on a non-recourse basis (pro-soluto).

 

The portfolio consists of granular Italian exposures (small tickets) with total gross claim value of approx. € 1.1 billion.

 

The impact is already accounted in the second quarter 2019 financial statements.

 

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

 

 

Milan, 25 July 2019

 

 

 

 

Enquiries

 

 

Investor Relations

Tel +39 02 88621028

e mail: investorrelations@unicredit.eu

 

Media Relations

Tel +39 02 88623569

e mail: mediarelations@unicredit.eu