UniCredit announces an extended emergency package to support families and enterprises
UniCredit is extending its regional emergency package to the whole of Italy and with further support measures. These come in addition to the bank's previously communicated measures as well as those announced by the Government through the Decree "Cura Italia" to face the COVID-19 emergency.
In particular, UniCredit will offer the following:
for Individual clients:
- mortgages: suspension of payments on the principal amount for up to 12 months
for SME clients, on top of the measures announced by the Italian Banking Association and fully leveraging on the "Cura Italia" Decree:
- additional finance, equal to at least 10 per cent on top of the outstanding amount, through debt renegotiation and/or consolidation with the guarantee of the Central Guarantee Fund
for other Enterprises clients:
- medium-long term loans: suspension of payments on the principal amount falling due within three to six months, with an option to extend up to a maximum of 12 months;
- extension of credit for imported goods up to 120 days to support working capital management;
- granting of temporary liquidity lines with up to six months.
Remo Taricani, Co-CEO of UniCredit's Commercial Banking Italy, said: "We have always been firmly committed to local communities and we are here to help them also through these difficult times: there is support available and we want to make sure it gets to those who need it".
Andrea Casini, Co-CEO of UniCredit's Commercial Banking Italy, added: "Many of our customers are or will be affected by the current situation. To support them, we are taking swift and decisive actions making sure we help them get through and mitigate any economic impact. All of our offers and services are available remotely and thanks to our digital services there is no need for customers to go to a physical branch".
The health and well-being of employees and customers is UniCredit's top priority. UniCredit will continue to actively monitor the situation, always act in everyone's best interests and do the right thing!
Milan 23 March 2020
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