Unicredit sells a 101 million euro portfolio of non-performing loans in Russia. This was announced by the bank in a note, specifying that the operation was carried out through the Russian subsidiary AO UniCredit Bank, which has reached an agreement with the investment company EOS.
The agreement concerns the sale without recourse of a portfolio of non-performing loans deriving from consumer/car credit agreements granted by AO UniCredit Bank to customers belonging to the private segment.
The portfolio consists entirely of loans regulated by Russian law for an amount of approximately 101 million euro.
The disposal of the portfolio is part of UniCredit's current NPE reduction strategy and the impact will be reflected in the second half 2018 financial statements.
