UniCredit has reached an agreement with Credit Factor SpA and a securitisation vehicle managed by KRUK SA ("KRUK") in relation to the disposal on a non-recourse basis (pro-soluto) of a non-performing unsecured Individual credit portfolio, in Italy.
The portfolio consists entirely of Italian unsecured Individual credits with a claim value of approximately €90 million. The economic impact will be reflected in the fourth quarter 2022 financial statements.
UniCredit and KRUK have also reached an agreement for the disposal of up to €460 million of Italian unsecured consumer loans, classified as bad loans from first quarter 2023 to the end of 2024.
The agreement is part of UniCredit's on-going strategy to reduce non-performing exposures.
Milan, 12 December 2022
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