Unicredit and MBCredit Solutions have signed an agreement on Non Performing Loans. In detail, MBCredit Solutions, a Mediobanca group company that offers services in the management of non-performing loans, will purchase from the bank led by Jean Pierre Mustier Retail Unsecured loans with a total nominal value of around 210 million.
The agreement provides for the non-recourse transfer by Unicredit of a portfolio of non-performing loans deriving from unsecured credit agreements with customers in the consumer segment.
“The portfolio - explains the institute in Piazza Gae Aulenti - exclusively includes receivables deriving from loan agreements governed by Italian law for a total amount - gross of value adjustments - of approximately 51 million euro. The economic impact of the sale will be included in the financial statements for the first quarter of 2019".
Not only that, the agreement also establishes the purchase by MBCredit Solution of 160 million non-performing loans of the same type which will be generated starting from the first quarter of 2019 until the end of the year.
All portfolios are made up of non-performing positions relating to consumer credit agreements, credit cards and current accounts signed by UniCredit.
The transaction announced today follows the agreement, made in March 2019, on the transfer of a portfolio of Retail Unsecured loans owned by Deutsche Bank with a nominal value of 60 million, mainly composed of receivables derived from personal loans, special purpose loans and salary-backed loans
“In view of the transactions concluded in recent months, the proprietary portfolio of MBCredit Solutions amounts to a nominal value of approximately 5,6 billion euro, for a total of approximately 710.000 positions”, Mediobanca states.
