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Share Name Share Symbol Market Type
Unicredit Spa BIT:UCG Italy Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.042 0.39% 10.708 10.70 10.702 10.824 10.612 10.616 12,274,239 16:35:50

UniCredit Offloads EUR1.1 Billion in Nonperforming Loans

15/06/2022 8:02am

Dow Jones News


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By Cristina Roca

 

UniCredit SpA said Wednesday that it has transferred a portfolio of nonperforming loans with a claim amount of 1.1 billion euros ($1.15 billion) to Itaca SPV Srl, a securitization vehicle.

The Italian lender said the transaction took place in the framework of GACS, a scheme set up by the Italian government to make it easier for commercial banks to remove bad loans from their books.

This deal is the group's fifth GACS-backed transaction, UniCredit said.

 

Write to Cristina Roca at cristina.roca@wsj.com

 

(END) Dow Jones Newswires

June 15, 2022 02:47 ET (06:47 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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