08 October, Monitor Immobiliare
Creval disclosed to have met the goals set in the 2018 de-risking plan, as the bank “completed the transfer to Credito Fondiario of an NPL portfolio of the secured type for gross book value equal to 220 million”.
The operation will positively impact on the fully loaded Cet1 ratio by approximately seven basis points on the figures as of 30th June 2018, according to what was already communicated to the market.
The economic and financial effects of the transfer were already booked in the first semester of 2018. With the completion of the operation concerning the Gimli portfolio, the 2018 de-risking plan has been accomplished, and the result is aligned with the schedule set in the 2018-2020 business plan. According to the de-risking plan, the bank has carried out NPL operations for over 2 billion euro this year.
Source: Monitor Immobiliare
Translator: Cristina Ambrosi