Credit Factor SpA and KRUK Spólka Akcyjna reached an agreement to acquire Non-performing unsecured individual credit portfolio, in Italy from UniCredit S.p.A..

Credit Factor SpA and KRUK Spólka Akcyjna (WSE:KRU) reached an agreement to acquire Non-performing unsecured individual credit portfolio, in Italy from UniCredit S.p.A. (BIT:UCG) on December 12, 2022. The portfolio consists entirely of Italian unsecured Individual credits with a claim value of approximately ?90 million. The economic impact will be reflected in the fourth quarter 2022 financial statements.

In the related transaction UniCredit and KRUK have also reached an agreement for the disposal of up to ?460 million of Italian unsecured consumer loans, classified as bad loans from first quarter 2023 to the end of 2024. The agreement is part of UniCredit's on-going strategy to reduce non-performing exposures.