According to a statement released by Unicredit, the agreement undersigned with the loss adjuster concerns both performing and non-performing credits.

As per the agreement, the depositors of Banca MB will be entitled to:

  • follow the standard reimbursement procedure, requesting the payment directly to the Liquidator; or
  • benefit from the funds directly made available by UniCredit, up to a maximum amount of EUR127.8m, through payment of the relevant amount into current accounts to be opened by depositors, starting from 20 May 2011. Such amounts will be deducted from the price payable for the credit portfolio.

The remaining portion of the purchase price due by UniCredit will be paid in cash directly to the liquidator.

In this manner Unicredit is participating in the liquidation of Banca MB organized by representatives appointed by the Bank of Italy.