25 May, Finanza Report
Banco Bpm is about to approve the transfer through securitisation of NPLs amounting to 1,5 billion € to Fonspa (Credito Fondiario). The operation will be closed at 30% of the book value. The public guarantee might be granted for the senior tranche.
The transaction will allow the bank to reduce its non-performing loans from 8.7 billion € adjusted to 7.2 billion, decreasing the gross Npe ratio from 7.5% to 6.3% adjusted. This reduction will be likely to make Banco Bpm more appealing in view of a possible merger.
Source: Finanza Report
Translator: Cristina Ambrosi