2020-12-12 Italian Banks and NPL Market – English Update

Bank of Italy has presented the new innovation center created to support the digital evolution of the Italian financial market promote inclusion of talents and attract investments. The location chosen for the new hub is Milan, due to the large presence of intermediaries, investors and researchers and its great ability to dialogue with European and international interlocutors. Article in Italian.

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PWC has published an update to its usual report on the Fintech market in Italy to take into account the impacts of the pandemic on the sector. The health emergency has challenged many of the established trends in different economic, productive and social contexts. For this reason, the consulting firm decided to try to assess how this new reality could change the positioning of Italian FinTechs by creating an update of the 2020 report, published in April. Article in Italian.

According to Bank of Italy’s latest survey on Banks and Money , in October, non-performing bank loans of Italian institutions decreased by 14.1% over twelve months. The issuing institution specified that this change may be affected by the effect of securitization operations. Article in Italian.

Phinance Partners S.p.A. has successfully concluded, as Arranger and Advisor of the multi-originator securitization company POS S.r.l., the purchase without recourse from Banca Sella of a portfolio of unsecured non performing retail loans, for a total gross value of approximately 24 million Euros. This is the fifth portfolio of loans purchased by the POS vehicle which thus reaches almost 400 million GBV and almost 30 thousand debtors. Article in Italian.

Prelios Innovation and UNIREC, National Union of Credit Protection Companies, have signed a strategic partnership agreement aimed at promoting BlinkS – a digital platform for trading non-performing loans developed by the Prelios Group. The platform will be presented to all UNIREC member companies, operating in a wide range of services from commercial information to credit recovery and purchase, which may decide to use it either as a Seller, Buyer or Arranger of transactions. Article in Italian.

Analysts from Santander and Intesa Sanpaolo have estimated that a merger between Banco-BPM and BPER would be convenient even in the absence of the tax benefit deriving from the transformation of DTAs into tax credits.According to the most recent valuations, the target price on Banco-BPM would be around 2.2 euros with a premium of around 20% on current values. This valuation is based on the idea that the consolidation process of the Italian banking sector will continue in 2021 and that Banco BPM may likely consider a merger of equals with BPER. Article in Italian.

In July as Intesa Sanpaolo successfully acquired UBI bank I wrote a post on Econopoly 24 blog on the cultural difference between “Banca di Sistema” and “Banca di Mercato” comparing the divergent strategies of the first two banking groups in the country. I think that this perspective can be useful to read the decision of Jean Pierre Mustier,Unicredit CEO , to leave the bank at the end of his term of office next April. 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.

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Pubblicato da Massimo Famularo

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

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