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UniCredit: to sell stake in bad loans portfolio

(CercleFinance.com) - UniCredit has entered into a series of agreements to reduce its position in the Fino portfolio of bad loans to below 20%, the Milan-based lender said on Tuesday.

The plan to sell down its position in the portfolio to below 20% was first communicated at the Italian bank's 2016 Capital Markets Day.

UniCredit expects a net positive impact of 10 basis points on its common equity tier 1 (CET1) capital ratio after these measures.

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