Milan – Eight billion euros. So much is the plan worth “Unicredit for Italy“, package of measures launched by the banking group in support of families and businesses, while the latter are under stress as they are involved in a fight full of pitfalls against three main enemies: the vertiginous cost increase energy and raw materials, one economic crisis with implications and indefinite times and a negative spiral of general increases in the levels of prices of goods and services which resulted in a surge ininflationwhich returned to gallop at the pace of 7.6% in 2022, and lower GDP growth which, while confirming itself in a positive area, will stand at 3.3% this year compared to 6.6% in 2021.
“Unicredit for Italy” Plan presented
All factors that have pushed Unicredit to play ahead, confirming itself alongside families and the productive fabric through interventions on disposable income and liquidity.
This ambitious plan – announced in the press conference on Monday 5 September 2022 by Andrea OrcelCEO of Unicredit (on the cover), And Remo Taricanideputy head of Unicredit Italia – is based on two pillars: a ceiling of 5 billion euros of new finance and another 3 deriving from a mix of interventions that will directly affect mortgages and consumption.
“With UniCredit for Italy – explained Taricani – we offer our customers concrete and flexible actions capable of making a contribution to a more flexible management of family and business accounts, allowing them to better address the various daily priorities and greater protection to in the face of rising energy costs and inflation “.
More liquidity and installments against the crisis
The strategy of the banking group of Piazza Gae Aulenti therefore envisages lprovision of liquidity against the rise in the cost of energy and raw materials.
It can be done through CreditPiù and has a duration from 3 to 36 months and a pre-amortization of up to 6 months. But it also provides the installments on purchases and utilitieswith the possibility of postponing individual purchases or the entire monthly expense made with Flexia card (also through a plan up to 6 months and zero rate and commissions); the moratorium on loans from companies that have not benefited from public guarantees, all for a duration of 12 months and subject to the bank’s assessment; and finally the suspension of the principal amount of the mortgage payments of families and individuals for a maximum duration of 12 months.
In this case the possibility of redefine the monthly payment through a remodeling of the repayment plan or postponing the payment of the installment up to a maximum of 3 installments.
A concerted aid to families and businesses
All recipes that arrive while, analyzes the CEO of Unicredit:
“The difficult times we are experiencing require us to do everything possible to build a better future, a goal that represents the raison d’être of our bank, which has always been close to the needs of local communities. The latter must be helped, since they are facing a difficult moment, marked by the loss of purchasing power of families and the risk of a contraction in corporate investments “.
It is precisely the concerns of the companies, especially the energy-intensive ones on which the aid will focus, that prompted the bank to adopt these extraordinary measures.
“What we have seen in the second half of the year is that the behavioral dynamics are more cautious but the indicators we have had have always been positive – adds Orcel – The initiatives implemented are not dictated so much by the financial aspect as by the difficulties. companies are experiencing. At this stage, they need more breathing space. Our offer is aimed at all industrial sectors, even if it is clear that the energy-intensive sectors will be those with the highest percentage of membership. Previously we had already intervened to implement forward-looking actions: those who covered themselves last year, today take home a significant saving. These were operations made with the right timing, for which we were able to offer long horizons. With today’s prices, however, it is more expensive. In any case, we are ready to mitigate the impact of energy costs, it is the engineering sector but not only that is clamoring for it “.
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