UniCredit offloads loans portfolio to Illimity

UniCredit announces today an agreement with Illimity Bank S.p.A. ("Illimity").

  0 Be the first to comment

External

This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.

The agreement concerns the disposal of an Italian Small and Medium Enterprise secured unlikely to pay portfolio, on a non-recourse basis (pro-soluto).

The portfolio consists entirely of Italian exposures with a total gross claim value of approximately € 153 million.

The impact is already accounted in the third quarter 2020 financial statements.

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

Sponsored [On-Demand Webinar] PREDICT 2025: What the National Payments Vision means for the UK

Related Company

Comments: (0)

[New Impact Study] Are you ready for CBPR+? Accelerating modernisation and efficiency through ISO 20Finextra Promoted[New Impact Study] Are you ready for CBPR+? Accelerating modernisation and efficiency through ISO 20022