UniCredit 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 €51 million. The economic impact will be reflected in the first quarter 2019 financial statements.
UniCredit and MBCS have also reached an agreement for the disposal of up to €160 million of Italian unsecured consumer loans of the same nature, originated from first quarter 2019 to the end of the year.
The agreement is part of UniCredit's on-going strategy to reduce non performing exposures.
Milan, April 12, 2019
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