UniCredit Sells Hungary Nonperforming Credit Portfolio
July 17 2019 - 3:00AM
Dow Jones News
By Anthony Shevlin
UniCredit SpA (UCG.MI) said Wednesday that it sold its
nonperforming credit portfolio in Hungary to EOS Faktor Zrt. and
reached an agreement for a three-years forward flows program.
The Italian bank said the portfolio has a total claim value of
around 28 million euros ($31.4 million).
Furthermore, UniCredit's Hungarian subsidiary signed an
agreement for a three-years forward flow program on the new
nonperforming loans inflows in the mortgages, unsecured consumer,
predefined SME loans and overdrawn accounts segments.
The impact of the sale will be reflected in UniCredit's
second-quarter accounts.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com;
@anthony_shevlin
(END) Dow Jones Newswires
July 17, 2019 02:45 ET (06:45 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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