2020-11-13 Italian Banks and NPL Market – English Update

As reported by Financial Times, the head of the Single Resolution Board,Elke König, expressed a negative opinion on the hypothesis of the creation of a European Bad Bank, put forward by the president of the ECB supervisory authority (check my blog where I expressed my take on this several times ) and invited EU credit institutions to work hard to distinguish counterparties in temporary and reversible difficulty from those destined to finally become insolvent. Read the article in Italian.

Scope Ratings has published an update on the European real estate market. In most European countries there was a slowdown in the growth of real estate values in the second quarter. Read the article in Italian

Listen to Entering Italian NPL Market Podcast

Idexa the startup founded by Roberto Nicastro and Federico Sforza, both past top managers in Unicredit, has raised 45 million in seed financing.l project, presented several months ago under the name of “Banca Idea”, aims to use a combination of AI and Open Banking to target the seven million companies in Italy with a turnover of less than 10 million euros, using an entirely digital service model. The goal is to provide credit and answers quickly, with the minimum of bureaucracy. Read the article in Italian.

The IPO of Ant Financial (read more in Italian) has been suspended by the Chinese authorities. According to the Financial Times, the postponement of the listing could last up to 6 months. Read the article in Italian.

Credit Village’s Monitoring center on NPE Market released an update on transactions in the first nine months of the year, recording a decrease of just over 11% in the number of transactions and 15.8% in value. By the end of the year, considering the pipeline transactions and the positive closing of the MPS-Amco Jumbo deal, total volumes are estimated at around €27-28 billion. Article in Italian.

Cherry Sea, the monitoring office of Cherry Bit – a research firm using AI algorithms to analyze distressed credit – has carried out an analysis of data relating to all the bankruptcies registered in the 140 Italian courts from 2010 to the end of 2019. Read the article in Italian.

Unicredit and Illimity bank have announced the closing of a second tranche of the UTP receivables divestiture for a total of 600 million. The portfolio consists of positions with an average GBV of some 1.3 million euro anf includes approximately 450 corporate counterparties – belonging to the Italian SME segment – and active in various sectors including mainly food & beverage, energy & utilities, real estate and construction. Read the article in Italian.

llimity Bank has published the results as at 30 September 2020: in the first nine months of the year, net profit was 24 million euro compared to a loss of 18 million euro in the same period of 2019. Read the article in Italian.

Banca IFIS has published the results for the third quarter 2020 together with the news of the acquisition of a 553 million NPL portfolio sold by Intesa Sanpaolo. In the first 9 months of the year, the bank realized a net profit of 52.3 million, maintaining a trend of consolidation of the balance sheet with a CET1 at 11.69%, an increase of 73 basis points compared to December 31, 2019. Read the article in Italian.

Check previous Eglish Updates

SaveTheDate On 24 November 2020 I will participate as a speaker in the virtual event: The management of credits guaranteed by real estate: prospects and critical issues following the health emergency organized by AGIDI – Italian Association of Real Estate Lawyers. Find out More.

If you like my updates you can:

Are you interested in Italian banks and NPL/UTP market? Ask for a briefing  (in person or via conference call) by sending me a private message. I am also available for consulting projects on Distressed Assets pricing and Portfolio Management.

Link to my updated business profile

GLG – Gerson Lehrman Group – Council Member

Pubblicato da Massimo Famularo

Investment Manager and Blogger Focus on Distressed Assets and Non Performing Loans Interested in Politics, Economics,

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