Italian non-performing exposures stood at 180 billion euros at the end of 2018, down from a peak of 341 billion euros in gross book value at the end of 2015, according to a PwC report in July. Announced and reported transactions involving bad or shaky loans since the start of 2019 amount to some 36 billion euros, the report says.
Total non-performing exposures at Italian banks amounted to 8.7% of total loans at the end of December and are predicted to fall to around 5% by 2022, according to Italian banking association ABI. Intesa Sanpaolo, Italy’s biggest retail bank, said on July 31 it had sold a portfolio comprised chiefly of loans classed as unlikely to pay to recovery specialist Prelios for around 2 billion euros, equivalent to about 66% of the loans’ gross book value.
The deal lowers the bank’s total non-performing exposures to 31.8 billion euros, the lowest level since 2009. Prelios will also manage a further 6.7 billion euros of Intesa’s bad loans. Andrea Enria, head of the European Central Bank’s supervisory board, said on June 14 total non-performing loans in the euro area had fallen to 3.8% of big banks’ total loans in gross terms, below a 5% threshold set by the European Banking Authority.
Source: Financial Digest (financialdigest.net)
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