UniCredit has today announced it has reached an agreement with EOS on a non-recourse basis to sell a portfolio composed of consumer/car non-performing loans.
The Italian banking giant said the loans were granted by AO UniCredit Bank, its Russian unit, to private individuals customers.
The portfolio consists entirely of Russian loans with a Legal Claim value of approximately €101 million.
The sale is part of UniCredit Group’s on-going strategy to reduce non-performing exposure.
The impact is expected in the accounts of the second half 2018.