UniCredit launches a new plan in support of families and businesses and makes available a total of 8 billion. The new program is called “UniCredit for Italy” and provides on the one hand for the allocation of 5 billion euros of new funding to support the Italian companies, on the other, it promotes the suspension of installment payments on loans a businesses and families and the deferral of expenses for private customers for a total value of approximately 3 billion euro.
In detail, the ceiling of 5 billion new finance is in favor of Italian companies in every sector to support liquidity needs in the face of rising energy and raw material costs and is disbursable through CreditMore with a duration from 3 to 36 months and a grace period of up to 6 months.
Among the measures referred to credit line of 3 billion of euros there is the possibility of install utilities or defer individual purchases or household spending for the month, thanks to Carta Flexia and a plan of up to 6 months with zero interest rates and commissions. The initiative will involve 1,4 million private customers and will be valid from 1 October to 31 December.
A 31-month moratorium on mortgage loans to business customers that have not already benefited from public guarantees is also envisaged by 12 December.
A module has been planned to make mortgage management more flexible
Finally, thanks to the form mortgage flexibility households/individuals, UniCredit continues to make available to approximately 400 thousand bank customers (holders of these mortgages) the possibility of suspending the payment of the principal amount of the installments for a maximum period of 12 months, the possibility of redefining the monthly installment through a remodulation of the repayment plan or postpone payment of the installment up to a maximum of 3 installments. UniCredit estimates that the installment, moratorium and flexibility measures in favor of customers will have a total value of 3 billion euros.
"The complicated international context is having negative effects on the incomes and savings of Italian families, caused in particular by the exceptional increases in the costs of energy and raw materials which are causing a dangerous inflationary push", he explained Andrea Orcell, CEO of UniCredit, who assures "as a bank we have never failed to provide our support in the most difficult moments our country has gone through".
"UniCredit has always been close to the needs of local communities and we want to help them even in this difficult moment marked by the loss of purchasing power of families and the risk of a contraction in corporate investments", he added Remo Taricani, Deputy Head of UniCredit Italy.
