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UniCredit announces the sale to Illimity of an Italian Small Medium Enterprise secured and unsecured Unlikely to pay portfolio

UniCredit announces today an agreement with Illimity Bank S.p.A. ("Illimity"). The agreement concerns the disposal of an Italian Small and Medium Enterprise secured  unlikely to pay portfolio, on a non-recourse basis (pro-soluto).

 

The portfolio consists entirely of Italian exposures with a total gross claim value of approximately € 153 million.

 

The impact is already accounted in the third quarter 2020 financial statements.

 

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

 

 

Milan, 11 November 2020

 

 

 

Enquiries

 

Investor Relations

e mail: investorrelations@unicredit.eu

 

Media Relations

e mail: mediarelations@unicredit.eu