UniCredit Sells Nonperforming Credit Portfolio
November 18 2019 - 2:46AM
Dow Jones News
By Giulia Petroni
UniCredit SpA (UCG.MI) said Monday that it has sold a
nonperforming credit portfolio to APS Holding (054620.KQ) and
Balbec Capital LP through its subsidiary UniCredit Bulbank.
The Italian bank said the portfolio, which is composed of
Bulgarian secured and unsecured nonperforming loans, has a legal
claim value of approximately 50 million euros ($55.2 million). The
sale is part of the group's strategy to reduce non-performing
exposure, UniCredit said, and is expected to impact the bank's
fourth-quarter results.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
November 18, 2019 02:31 ET (07:31 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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