UniCredit reaches agreement with MBCS on disposal of nonperforming Italian credit portfolio
UniCredit will dispose of a nonperforming unsecured consumer credit portfolio in Italy through an agreement with MBCredit Solutions (MBCS), realized on a nonrecourse basis.
The agreement is in line with UniCredit's continued efforts to reduce its nonperforming exposure, according to a press release. The disposal, which will reflect in the group’s financial statements for the second quarter, encompasses a $352 million portfolio, which comprises solely unsecured consumer credits.
UniCredit will also dispose of a $159 million portfolio of Italian unsecured consumer loans with MBCS, according to a separate agreement.
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UniCredit Bank d.d. Mostar Bosnia and Herzegovina Street Tehran, Tehran Province