UniCredit S.p.A.

03/20/2017 | Press release | Distributed by Public on 03/20/2017 04:05

UniCredit Bank Hungary sold non performing credit portfolio composed of residential mortgages

UniCredit announces it concluded an agreement in relation to the disposal on a non-recourse basis (pro-soluto) of a portfolio composed of retail mortgage receivables with a locally-licensed Hungarian financial enterprise. The transaction was financed by investment funds managed by Balbec Capital LP and APS Holding.

The portfolio consists entirely of Hungarian loans. The total claim value of the portfolio is approximately EUR 138.9 million (HUF 42.7 billion).

The sale is part of UniCredit Group's on-going activities to sell non-core assets and strengthen its risk profile.

The impact will be reflected in first quarter 2017 balance sheet.

Milan/Budapest, 20 March, 2017

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