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

UniCredit announces today an agreement with a securitisation vehicle managed by illimity S.p.A. ("illimity") and a securitisation vehicle managed by Guber S.p.A. ("Guber"). The agreement concerns the disposal of an Italian Small and Medium Enterprise non-performing unsecured loans portfolio, on a non-recourse basis (pro-soluto).

 

The portfolio consists entirely of Italian large-ticket exposures with a total gross claim value ("Claim Value") of approximately € 450 million.

 

illimity has bought a portion of the portfolio with a Claim Value of approximately € 240 million and Guber has bought approximately € 210 million.

 

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, 26 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