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UniCredit sells Bulgarian non-performing credit portfolio to APS and Balbec Capital

UniCredit announces today that, through its UniCredit Bulbank (Bulgaria) subsidiary, it has reached an agreement with APS and Balbec Capital to sell on a non-recourse basis (pro-soluto) a portfolio composed of secured and unsecured non-performing loans granted by UniCredit Bulbank to SME and Corporate customers.

 

The portfolio consists entirely of Bulgarian loans with a Legal Claim value of approximately €50 million.

 

The sale is part of UniCredit Group's on-going strategy to reduce non-performing exposure ("NPE").

 

The impact is expected in the accounts of the fourth quarter 2019.

 

 

 

 

Milan, 18 November, 2019

 

 

 

Enquiries

 

Investor Relations

Tel +39 02 88621028

e mail: investorrelations@unicredit.eu

 

Media Relations

Tel +39 02 88623569

e mail: mediarelations@unicredit.eu