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

UniCredit announces today an agreement with a securitisation vehicle managed by Illimity 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 ("Claim Value") of approximately € 730 million.

 

The impact will be accounted in the third quarter 2019 financial statements.

 

The sale is part of UniCredit's on-going strategy to reduce non-performing exposures.

 

 

Milan, 27 September 2019

 

 

 

Enquiries

 

 

Investor Relations

Tel +39 02 88621028

e mail: investorrelations@unicredit.eu

 

Media Relations

Tel +39 02 88623569

e mail: mediarelations@unicredit.eu