UniCredit is preparing to sell another 3 billion Npl. The news comes anticipated by Bloomberg according to which the banking group led by Jean Pierre Mustier would also like to extend a partnership to manage problem corporate debts as an integral part of its asset cleaning strategy.
According to rumors collected by Bloomberg, Unicredit is evaluating various offers for the sale of 700 million unsecured loans within a plan called Narciso to be finalized next month. The bank is also looking for buyers for two other NPL portfolios, Turin and Milan, which together amount to 1,8 billion euros.
The Milan package would concern guaranteed loans for 800 million from small and medium-sized enterprises. The Turin package, on the other hand, includes 1 billion in loans that are not guaranteed. Bids should be submitted next month. To these two operations, other minor packages should then be added - for a total value of 500 million - attributable to large loans granted to individual companies which in the meantime have seen their economic situation and solvency deteriorate.
However, Unicredit, when asked by Bloomberg, declined to comment on the rumors collected by the American agency.
It is worth remembering that the cleanup operation is one of the cornerstones of Mustier's strategy and that at the beginning of the year the group sold the maxi-package of NPLs - 17,7 million euros - making it the most significant operation ever completed in Italy. Unicredit is pursuing its objective of reducing its exposure to non-performing loans to 37,9 billion at the end of 2019 against 44,6 at the end of March 2018.
