- Concrete measures aimed at cost containment for customers, including flexible financing and new resources for spending and investments
- €4 billion to support the spending of individuals and households
- €6 billion in new financing for tourism, Made in Italy and Special Economic Zones ("SEZs")
UniCredit today launches the next tranche of "UniCredit for Italy" - the bank's plan to support the country via initiatives with a total potential value of 10 billion Euro.
After the decisive actions put in place last summer to enable households and businesses to cope with rising energy and commodity prices, the bank is now launching a series of initiatives aimed at giving concrete support to individuals and families grappling with inflation, as well as at providing new resources for the development of specific sectors and territories.
These initiatives are yet another sign of the bank's commitment to its customers and to local communities.
Concrete new actions that UniCredit is making available to individuals and families comprise:
• Flexibility in the repayment of mortgages: clients who have not yet taken advantage of rescheduling can choose either to suspend the repayment of the principal amount for 12 months or reduce the amount of each installment by extending the maturity date by up to a maximum of 4 years. There is no fee associated with either option. Upon customer's request, and after credit evaluation, the Bank reserves the right to extend the term of the loan even beyond the 4 years extension.
• Zero-cost installment payments on purchases: Flexia card holders having an Equivalent Economic Situation Indicator ("ISEE") of less than 25 thousand euros can request - at zero interest - from 3 to 20 installment payments of expenses incurred with the card until December 31, 2023.
• €500 bonus on personal loans for new births: until September 30, 2023, customers who are approved for a new loan of at least €10,000 to support current family expenses will benefit from a €500 bonus, upon presentation of the birth certificate for babies born since January 1, 2023.
On the business side, among the most significant measures are:
• €6 billion of new financing to support businesses in the tourism sector, those representing Made in Italy excellence and those operating in Italy's Special Economic Zones (SEZs). To facilitate investments that take longer to develop, a grace period of up to 36 months is available during which only the interest portion is repaid.
• Moratorium until the end of the year on the principal portion of outstanding medium- and long-term loans for all enterprises that have not already taken advantage of public guarantees.
• Elimination of POS fees for merchants with turnovers of under €1 million for transactions of amounts up to €10 carried out at physical sale points.
Andrea Orcel, CEO of UniCredit and Head of UniCredit Italy, said: "Italian families and businesses have shown extraordinary resilience and adaptability in the face of significant macro-economic pressures, including rising rates and high inflation. These impressive individual reactions have enabled Italy's collective response to be stronger-than-expected, and the economic situation in recent months has been better than we might have feared. As UniCredit has always done, it is our role to support our customers and communities even during the most difficult times. We will continue to offer concrete help to families, communities and businesses so that they can accelerate their individual paths to growth and our collective path to success."
Remo Taricani, Deputy Head of UniCredit Italy, added: "With this second tranche of 'UniCredit for Italy' we are reiterating our commitment to be on the side of all customers. We continue to support individuals, households and businesses to enable a more flexible management of their financial commitments, helping them to better address daily priorities, while also making available new resources for investments. In this way, we want to strengthen the foundations to guarantee the country sustainable growth that benefits all territories."
What was announced today adds to UniCredit's recent resumption of purchases of tax credits linked to the Superbonus and other construction bonuses, which allows businesses, artisans and professionals who have accrued tax credits against invoice discounts for expenses incurred in 2022 to mobilize these credits, obtaining the liquidity they need to continue their business.
A description of all measures, including economic conditions, is available at link www.unicredit.it/perlitalia
Milan, 6 June 2023
Contacts:
Media Relations
e-mail: MediaRelations@unicredit.eu