(ANSA) - MILAN, JULY 22 - UniCredit CEO Jean PierreMustier in an interview with Euromoney, again excludes that the institution is interested in M&A and reaffirms his preference for buyback as a less risky way to return excess capital to shareholders.
In pointing out that Covid has accelerated the bank's digitalisation plan, Mustier points out that this is the preferred way compared to the consolidation.
In the meantime, UniCredit has announced an agreement with Ifis Npl (Banca Ifis) and Gaia, a securitization vehicle financed by Guber Banca and Barclays Bank, managed by Guber, for the without recourse sale of a portfolio of non-performing loans of around € 840 million. (gross of value adjustments) deriving from unsecured credit agreements for the Italian small and medium-sized enterprises segment. IfisNpl bought a portion of the portfolio with a credit of around 486 million euros while Gaia bought the remaining portion with a credit of around 354 million euros. The impact of the sale has already been incorporated in the financial statements for the second quarter of 2020. The sale constitutes part of UniCredit's current strategy to reduce deteriorated exposures. (HANDLE).
Unicredit: Mustier, reiterates no ad m
2020-07-23T16:51:43.041Z
In an interview with Euromoney, UniCredit CEO Jean Pierre Mustier once again rules out that the institution is interested in M&A and reiterates its preference for buyback as a less risky way to return excess capital to shareholders. (HANDLE)
