MILAN, 19-Jun-2017 — /EuropaWire/ — UniCredit today has reached an agreement with MBCredit Solutions (“MBCS”) in relation to the disposal on a non-recourse basis (pro-soluto) of a non performing unsecured consumer credit portfolio, in Italy.
The portfolio consists entirely of Italian unsecured consumer credits with a gross book value of approximately €310 million. The impact will be reflected in the second quarter 2017 financial statements.
UniCredit and MBCS have also reached an agreement for the disposal of up to €140 million of Italian unsecured consumer loans of the same nature, originated in the course of 2017.
The agreement is part of UniCredit’s on-going strategy to reduce non performing exposure.
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SOURCE: UniCredit S.p.A.