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UniCredit says only 1 billion euros of loans still under moratorium -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: The UniCredit logo can be seen in Siena (Italy), 29 June 2017. REUTERS/Stefano Rellandini/File Photo

MILAN, Reuters – UniCredit is down to 1 billion euros (1.1 billion USD) in outstanding loans. These are all in Italy. In addition, default rates on debt that has had its payments frozen because of COVID-19 were standard. UniCredit’s chief financial officer stated on Friday.

Stefano Porro, CFO of the company, stated that payments on approximately 30 billion euro loans had been repaid. However default rates are expected to rise this year.

($1 = 0.8983 euros)

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