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
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