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npl-reo Market News: Spanish Real Estate Intelligence

Mps: the exit of the Treasury from the capital, NPL disposals and the leasing subsidiary
02 January, Start Magazine The presentation of the strategic plan for the withdrawal of the Italian Ministry of Finance from the Mps shareholders (currently holding a 68% share) has been postponed to the beginning of 2020 due to the ongoing negotiations with the European Commission. At the end of 2019, the bank completed three NPL disposal operations amounting in total to 1.8 billion euro, bringing the total value of sold non-performing exposures to 3.8 billion euro. Thanks to the latest disposals, the Mps Npe ratio had reduced to 12.5%, meeting the target of 12.9% by 2021 set in the reorganization plan. Meanwhile, Mps had to bail its subsidiary Mps Leasing&Factoring. The operation amounted to 250 million euro, which will cover losses for 419.3 million euro as reported in 2018. Source: Start Magazine Translator: Cristina Ambrosi