Unicredit to Sell Non-Performing Hungarian Credit Portfolio for EUR44.3 Million
December 04 2017 - 11:30AM
Dow Jones News
By Anthony Shevlin
UniCredit SpA (UCG.MI) said Monday that UniCredit Bank Hungary
and UniCredit Jelzalogbank will sell a non-performing credit
portfolio of retail mortgages for 44.3 million euros ($52.7
million).
The Italian bank said that the portfolio of Hungarian loans will
be disposed of on a non-recourse basis with EOS Faktor Zrt, a
locally-licensed Hungarian debt collection company.
The sale is part of the UniCredit group's on-going strategy to
reduce non-performing exposure.
The bank said that the impact will be reflected in fourth
quarter accounts.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com
(END) Dow Jones Newswires
December 04, 2017 12:15 ET (17:15 GMT)
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