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Unicredit about to sell NPLs for 3 billion

29 January, Il Messaggero

Unicredit continues with the clean-up of its accounts, as the company aims at disposing of bad loans for 3 billion euro.

Since the third quarter of 2016, UniCredit has worked on reducing its NPL portfolio by over 36 billion (according to the figures for the third quarter of 2018), and it’s committed to “reset the non-core portfolio by 2021”. The ratio between bad loans and the total non-core credits was set at 4.3% in the third quarter of 2018, aligned with the average of the EBA sample.

According to the rumours, in February, the bank will start working on a new portfolio for 800 million, while the remaining tranche will be disposed in the following months. The project has been named Sandokan 2, following a similar operation carried out at the end of 2015, although for a lower amount.

Source: Il Messaggero

Translator: Cristina Ambrosi