UniCredit has reached an agreement with a securitisation vehicle managed by KRUK Group in relation to the disposal on a non-recourse basis (pro-soluto) of a non-performing corporate credit portfolio both secured and unsecured, in Italy.
The portfolio consists entirely of Italian Non Performing Exposures with a claim value of approximately € 222 million. The economic impact is recognized in the 2021 Financial Statements, where the portfolio will be classified as held-for-sale, in accordance with IFRS5.
The agreement is part of UniCredit's on-going strategy to reduce non-performing exposures.
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