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Iccrea is studying new NPL transfers

12 March, Finanza Report

The cooperative credit group led by Iccrea Banca is currently working on the asset quality review (Aqr), a revision carried out autonomously before the official assessment by the ECB, as required last year by the Surveillance Authority to test the solidity of the group before getting the authorization to operate as a bank.

The Aqr anticipates the necessity to deal with the NPL transfer. NPLs have an impact on the credit stock of the group assessed around 19%, while the level recommended by the Surveillance Authority is set at 11%. In the last few months, the group has declared assets for 12 billion, 3 of which of net assets. This capital may contain an additional cautionary buffer required by the stress test.

Some approximative estimations show values around 1 and 2 billion. Furthermore, we must take into account the estimated losses on the transfer of bad loans that the group is expected to carry out in the next years. For this reason, according to Confindustria, the management is working in the meanwhile on defining a business plan aimed at increasing the profitability and generating profits, compensating in this way the potential shortcomings.

Source: Finanza Report

Translator: Cristina Ambrosi

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