UniCredit has reached an agreement with an asset securitization company managed by illimity S.p.A. on the sale without recourse (pro-soluto) of a mixed portfolio of problem loans. This is stated in the bank's message.
The portfolio consists entirely of non-performing Italian loans with a total gross value of claims of about 1.3 billion euros. The effect of this transaction will be shown in the bank's financial statements for the second quarter of 2022.
The sale of the portfolio of non-performing loans is part of UniCredit's current strategy to reduce non-performing loans.
