Unicredit has prepared the legal-administrative scenario in view of new securitisations. This was outlined yesterday by the bank's board of directors, “especially as regards loans to SMEs”, says CEO Federico Ghizzoni. The value of the securitization will be "up to 14 billion" and in any case the transaction will not impact Unicredit's assets, but will serve as a "buffer" just as "all the banks are doing after the Lehman Brothers crack".
Ghizzoni specified that yesterday's meeting focused exclusively on the "legal and administrative framework" of the securitization, without going into the merits of the operation. The Italian activities of Unicredit between January and April recorded an increase in gross operating profit of 10% on the year.
