MBCredit Solutions acquires NPLs from UniCredit

MBCredit Solutions
MBCredit Solutions has signed an agreement with UniCredit to acquire a portfolio of unsecured non- performing consumer credit loans for a nominal value of approx. €210m.
12 April 2019

The agreement involves the purchase of a portfolio of some 9,300 contracts for a nominal value of approx. €51m, to be followed by that of another four similar rolling portfolios generated in 2019, giving future flows with a value up to € 160m.

All the portfolios acquired consist of non-performing positions originated by consumer credit agreements, credit cards and current accounts subscribed for by UniCredit.

The transaction announced today follows the purchase, in March 2019, of a portfolio of retail unsecured loans from Deutsche Bank with a nominal value of €60m, chiefly consisting of credits originated by personal, dedicated and salary-backed loans.

Following the completion of these transactions, the MBCredit Solutions proprietary portfolio now amounts to approx. €5.6bn (nominal value), with a total of 710,000 positions.