Salem Radio Network News Tuesday, May 17, 2022

Business

UniCredit says only 1 billion euros of loans still under moratorium

MILAN (Reuters) – UniCredit has only 1 billion euros ($1.1 billion) in loans under moratorium, all of which in Italy, and default rates on debt where payments were frozen due to COVID-19 so far have been standard, its chief financial officer said on Friday.

CFO Stefano Porro told an analyst call payments had resumed on some 30 billion euros of loans, adding default rates were expected to increase this year but not significantly.

($1 = 0.8983 euros)

(Reporting by Valentina Za; editing by Agnieszka Flak)

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