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.