Unicredit: transfers NPL portfolio

(CercleFinance.com) - UniCredit announced on Wednesday that it had completed the transfer of 1.
1 billion euros Claim Amount of a NPL (Non-Performing Loan) Portfolio, including both secured and unsecured loans to a securitisation vehicle

The scope, which includes secured and unsecured loans, was sold to ITACA, a securitisation vehicle, under the Italian guarantee scheme to facilitate the securitisation of non-performing loans (GACS).

This mechanism, in place since 2016, enables the Italian banking system to get rid of non-performing loans.

The market also says good riddance, with the Unicredit share up almost 5% in late morning trading today.


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