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Volksbank cuts down its NPL stock

19 February, Il Sole 24 Ore

The Alto-Adige bank Volksbank joins the group of Italian banks working on reducing their non-performing loan stocks. The bank, which has closed 2017 with net profits of 24.3 million, aims at transferring within the year bad loans between 120 and 180 million, mostly secured. According to the management, this operation along with the internal collection will make possible cutting down the NPLs from 970 million, as reported at the end of 2017, to about 750 million. On the bank’s dossier “all the main players of the NPL sector are already present – explains the general director Johannes Schneebacher to Il Sole 24 Ore – we want to bring the gross NPL ratio down to 12%, ideally down to 10%”

The improvement of the quality of its portfolio, together with the reduction of the adjustments (-35% in comparison with 2016), makes possible for the bank guided by Otmar Michaeler to increase its earnings capacity. The margin interest in 2017 has registered a growth of 151.9 million (growing by 9.4% compared to 2016), with net commissions of 88.2 million (+7.4%), an intermediation margin for +5.9% for 257.7 million. These figures have permitted the group listed on the Hi-Mtf to return distributing dividends for a value of 0.20 euro per stock. The regional bank, which besides Alto Adige is also present in Trentino and Veneto, is mainly focused on the quality of the assets as well as on the internal growth. After the acquisition of Banca Popolare di Marostica in 2015, the bank is pursuing a strategy of “taking the opportunities offered by the crack of the two Venetian banks”, that’s the reason why “there is no extraordinary operation planned for the moment”.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

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