July 4 (SeeNews) - Italian banking group UniCredit said on Thursday it has agreed to sell its non-performing credit portfolio in Bosnia to Zagreb-based B2 Kapital, a subsidiary of Norway's B2Holding Group.
The legal claim value of the portfolio, which consists entirely of Bosnian loans, is some 24.5 million euro ($27.6 million), UniCredit said in a statement.
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In particular, UniCredit is selling a portfolio on a non-recourse basis (pro-soluto) composed of secured and unsecured non-performing loans (NPLs) granted by its two Bosnian subsidiaries - Banja Luka-based UniCredit and Mostar-based UniCredit Bank, to small and medium-sized companies and corporate customers.
The sale is part of the group's ongoing strategy to reduce non-performing exposure and is expected to impact its third-quarter accounts.
B2Holding provides debt solutions for banks and institutional vendors.
($=0.886649 euro)
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