2020-12-18 Italian Banks and NPL Market – English Update

The Group of Thirty (G30) published, Reviving and Restructuring the Corporate Sector Post-Covid: Designing Public Policy Interventions. The report commends the broad-based governmental actions initially taken to support the economy, citizens, and the corporate sector during the Covid pandemic. However, structural changes in our economies due to the pandemic, and growing corporate solvency challenges, require a new mix of policy responses and tools. The report urges governments to move away from broad support and toward more targeted measures, enabling the reallocation of resources needed for economies to emerge from the crisis fitter and stronger. Read the press release.

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The European Commission has presented a strategy to prevent a future build-up of non-performing loans (NPLs) across the European Union, as a result of the coronavirus crisis. The strategy aims to ensure that EU households and businesses continue to have access to the funding they need throughout the crisis. Read Press Release.

Banks have a crucial role to play in mitigating the effects of the coronavirus crisis, by maintaining the financing of the economy. This is key in order to support the EU’s economic recovery. Given the impact coronavirus has had on the EU’s economy, the volume of NPLs is expected to rise across the EU, although the timing and magnitude of this increase is still uncertain. Depending on how quickly the EU’s economy recovers from the coronavirus crisis, banks’ asset quality – and in turn, their lending capacity – could deteriorate. Read the full doc.

 Italy is working to extend by 12 months a state guarantee scheme designed to help banks shed problem loans, two sources familiar with the matter said on Tuesday, as the industry braced for a surge in pandemic-driven defaults. Authorities are focusing on how best to help banks deal with the fallout from the coronavirus crisis, once governments unwind extraordinary measures they deployed to support businesses. Read the News

Credito Fondiario has increased its stake in the share capital of Be Credit Management to 100%. The transaction is the completion of a strategic partnership started in 2018, the year in which the company was born as a JV between Credito Fondiario and Be Finance, a Rome-based company that operates in the field of structured finance and tax credits. Article in Italian.

Aigis is the new specialist lender that uses artificial intelligence to serve the economic development of SMEs and household savings. The name Aigis – αίγις, from ancient Greek, “aegis” – encapsulates the meaning of protection, while the first two letters “ai” represent the acronym for artificial intelligence, evocative of the modern, digital, innovative character of this bank, projected into the future of the banking sector. Article in Italian.

UniCredit Leasing (“UCL”) has successfully completed the transfer of approximately €1.6 billion of an Italian non-performing portfolio represented by real estate leases (“NPL Lease Portfolio”) to a special purpose vehicle (Relais SPV SrL “RELAIS”) and the properties to a Lease company, a subordinate company under Italian securitization law for the management of real estate assets (Relais LeaseCo S.r.l. and together with Relais, the “securitization”). Read article in Italian.

Sagitta Sgr, the Italian asset management company of the Arrow Global Group, has announced the acquisition of a number of mixed-use office/instrument buildings located in Ozzano nell’Emilia (Bologna) from Mint Street Holding Spa. Read the article in Italian.

AMCO has acquired an NPL portfolio worth €54 million (Gross Book Value) from Carige. The block to be sold is composed of receivables mainly from corporate customers (100% unsecured), totally classified as non-performing loans. Read the article in Italian.

Algebris has announced the first closing of the Algebris NPL Fund III, raising a total commitment of 160 million. The final closing of the fund, launched in February this year, is expected in December 2021, with a target total funding between 500 and 750 million.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.

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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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