UniCredit announces today an agreement with a securitisation vehicle managed by illimity Bank S.p.a. ("illimity"). The agreement concerns the disposal of an Italian Small and Medium Enterprise non-performing secured loans portfolio, on a non-recourse basis (pro-soluto).
The portfolio consists entirely of Italian exposures with a total gross claim value of approximately € 692 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, 21 October 2020
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