UniCredit announces today an agreement with a securitisation vehicle financed by SPF Investment Management, L.P. in relation to the sale of an Italian Small and Medium Enterprise non-performing unsecured loans portfolio, on a non-recourse basis (pro-soluto).
The portfolio consists of granular Italian exposures (small tickets) with total gross claim value of approx. € 1.1 billion.
The impact is already accounted in the second quarter 2019 financial statements.
The sale is part of UniCredit's on-going strategy to reduce non performing exposures.
Milan, 25 July 2019