UniCredit Expands Social-Impact Banking Project
21 Febrero 2019 - 06:30AM
Noticias Dow Jones
By Dieter Holger
UniCredit SpA (UCG.MI) said Thursday that it will expand its
social-impact banking project beyond Italy this year to Central and
Eastern Europe.
As part of the SIB project, the bank offers loans and support to
initiatives and organizations that banks generally don't lend to,
UniCredit said.
"SIB allows UniCredit to share its financial and business
know-how through educational initiatives dedicated to
micro-entrepreneurs, social enterprises and vulnerable or
disadvantaged groups, including young people, the elderly and
others at risk of social exclusion," it said.
The Italian bank said it has already approved 72.9 million euros
($82.7 million) through the project in Italy, including 31 impact
financing loans totaling EUR32.6 million and 2,050 micro-financing
loans of EUR40.3 million.
The project has disbursed EUR47.8 million in Italy to date, the
bank said.
"Our Social Impact Banking initiative has achieved great results
so far in Italy and we are now extending it to other markets with
the same core purpose of looking beyond economic returns in our
investments to achieve a tangible positive impact on society," said
Chief Executive Jean Pierre Mustier.
The bank will also sell part of its art collection to generate
EUR50 million, primarily for the project, though some pieces will
be donated to local museums, UniCredit said.
Write to Dieter Holger at dieter.holger@dowjones.com;
@dieterholger
(END) Dow Jones Newswires
February 21, 2019 07:15 ET (12:15 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Unicredit (BIT:UCG)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024
Unicredit (BIT:UCG)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024