UniCredit cuts NPLs with completion of FINO

UniCredit on Wednesday announced the completion of the second phase of its “failure is not an option” (FINO) plan to reduce its non-performing loan exposure and obtain recognition of “Significant Risk Transfer” by the end of March.

  • By GlobalCapital
  • 07 Feb 2018
This follows initial steps taken by the Italian bank last year in phase one of FINO, which used SPVs to transfer a €17.7bn non-performing portfolio (gross book value of €5.4bn) from its balance sheet. UniCredit retained a 49.9% interest in the transferred portfolio with the intention to reduce that to ...

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