The initiative will be extended until end of September 2021
UniCredit has supported around 37 thousand suppliers thanks to processing close to 4 billion euros of invoices significantly faster through a dedicated initiative first launched in April 2020 in response to the business impact of the Covid-19 crisis.
Paying suppliers faster means paying invoices "at sight" rather than by standard contractual terms thereby considerably speeding up the payment cycle and helping businesses with their working capital needs.
Carlo Vivaldi, Co-Chief Operating Officer of UniCredit, said: "Businesses across our markets continue to face the many challenges from the Covid-19 emergency and we are committed to supporting them and providing liquidity to the real economy. The faster invoice processing initiative allows us to offer concrete support to thousands of suppliers across our Group, helping us be part of the solution and actively contribute to business recovery from this crisis."
The initiative has so far allowed UniCredit to significantly speed up the payment of 300 000 invoices Group-wide compared to standard terms and will be extended until end of September 2021 to offer continued support in the current challenging market context, always in compliance with all standard local controls.
Milan 21 April 2021
UniCredit Media Relations