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UniCredit announces the sale to Illimity of an Italian Small Medium Enterprise secured non-performing loans portfolio

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

 

 

Enquiries

 

Investor Relations

e mail: investorrelations@unicredit.eu

 

Media Relations

e mail: mediarelations@unicredit.eu