UniCredit S.p.A.

07/17/2019 | Press release | Distributed by Public on 07/17/2019 00:59

UniCredit Bank Hungary sold non performing credit portfolio to EOS Faktor Zrt. and reached an agreement for a three-years forward flows program

UniCredit announces that, through its subsidiaries UniCredit Bank Hungary,it concluded an agreement in relation to the disposal on a non-recourse basis (pro-soluto) of a portfolio composed of retail mortgages, unsecured and overdrawn accounts receivables with the locally-licensed Hungarian financial enterprise EOS Faktor Zrt.

The portfolio consists entirely of Hungarian loans and has a total claim value of approximately EUR 28 million (HUF 9,0 billion).

Moreover, UniCredit Bank Hungary has signed with EOS Faktor Zrt. an agreement for a 3 years forward flow program on the new NPL inflows in the mortgages, unsecured consumer, predefined SME loans and overdrawn accounts segments.

The portfolio sale and the forward flows agreement are part of the overall UniCredit Group's on-going strategy to reduce non-performing exposure ('NPE').

The impact of the portfolio sale will be reflected in second quarter 2019 accounts.

Milan/Budapest, 17 July , 2019

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