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Transfer of bad loans for 30 billion coming soon

27 October, Il Sole 24 Ore

50 billion bad loans have been transferred since the beginning of the year. The trend is improving thanks also to the funding that has resumed for 1,763 billion

Bad loans for a value of 30 billion will be transferred by the end of 2017, contributing in this way at reducing the stock and getting closer to the European average. Giovanni Sabatini, Abi general director, is positive regarding the capacity of the banking system to reduce the NPL stock.

“Italian banks will complete transfers of bad loans for about 80 billion euro within the year”, said Sabatini during his speech at “Credit to Credit 2017”, reminding how so far operations for 50 billion euro have been carried out, to which others for 30 billion will add by the end of the year. These are the numbers concerning transfers. In any case, the net NPLs were set at 65 billion at the end of August. According to Sabatini, this trend will bring the gross debt/investments ratio below 10% “earlier than we thought” thanks to the growth of loans. In fact, at the end of September, the total of banks’ funding (including families and enterprises) registered an increase of 1.4% compared to the previous year, for a value of 1,763 billion. Talking about the future of credits, the general director stressed how the “green mortgages”, for energy saving properties, might start a revolution in the Italian real estate market. In the same way, the Italian real estate assets “may represent an important test, speeding up funding for the renovation of many post-war buildings needing work to make them energy efficient”. Yesterday Abi noted how the arrears have concerned since 2009 SMEs for a value of 459,757 and, between March 2015 and August 2017, families for 15,557.

At the conference, Luke Brucato, head of Business Development of Prelios Valuations, believes that “technology and data represent an opportunity to support the recovery of the mortgage loans market with an innovative and more cautious view compared to the past. We’re encouraging banks to look at the properties put as a guarantee of credits with the same attention they put when assessing the credit history of the debtor. For this reason, we’ve incorporated over 300 categories of socio-demographic big data to express the risk connected to every single property analysed and we’ve obtained over 50 years of price and transaction trends in order to have an outlook of the future of these properties”.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

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