Unicredit sells non-performing loans portfolio to Illimity
UniCredit has reached an agreement with a securitisation vehicle managed by illimity S.p.A. ("illimity") in relation to the disposal on a non-recourse basis (pro-soluto) of a mixed non-performing loans portfolio.
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The portfolio consists entirely of Italian non-performing exposures with a total gross claim value of approximately €1.3 billion.
The impact will be registered in the second quarter 2022 financial statements.
The sale is part of UniCredit's on-going strategy to reduce non-performing exposures.