The cleaning of the balance sheets of Italian banks from non-performing loans continues. According to the reconstruction of the Radiocor agency, in the first half of this year the top five Italian commercial banks (Intesa Sanpaolo, Unicredit, Ubi, Banco Bpm and Bper) disposed of a total of 26,75 billion gross NPLs compared to the data at the end 2017 communicated last February.
This cleaning is worth 17,9% of the existing stock as at 31 December last year and becomes even more incisive considering the npls net of adjustments: in this case the reduction is 24,2%, corresponding to the exit from the balance sheets of 17,72 .30 billion. As at 2018 June 5, the gross residual aggregate of non-performing loans (bad loans, unlikely to pay and past due) for the top 122,4 in Italy was 55,54 billion, which translates into 54,6 billion net (the adjustments therefore cover XNUMX % of gross book value).
Examining the situation of individual institutions, during the semester Understanding, thanks also to the maxi operation with Intrum, removed 12,6 billion gross npl (-7,1 net) from the balance sheet, i.e. more than 24% of the gross stock at the end of 2017 (-27,8% the net reduction, -7,1 billion). In the belly of the institute led by Carlo Messina, 39,5 billion gross non-performing loans remain, equal to 9,3% of total loans (the incidence was 11,9% at the end of 2017), and 18,4 billion net .
For Unicreditdisposal was 12% gross (-5,8 billion) and 21,2% net (-4,5 billion), with a residual amount of 42,6 billion gross (8,7% of receivables from 10,2% at the end of 2017) and 16,7 net.
Where's Banca, on the other hand, announced an important NPL securitization operation with recourse to the 2,75 billion Gacs public guarantee after the end of the semester. Without counting this operation, in the first six months of the year gross impaired loans decreased by 650 million (-5,1%) and net ones by 1,02 billion (-12,5%, the decrease is 310 million considering the reclassification based on IFRS 9). The residual stock is equal to 12 billion gross (12,41% of loans from 12,85% at the end of 2017, but the incidence drops to 11% considering the securitization), and 7,14 billion net.
Bpm bank, which is planning another important disposal by the end of the year, for its part has disposed of 6,1 billion gross (-23,9%) and 3,5 billion net (-26,9%) and remains with a stock of 19,4 16,6 billion gross (21,1% of loans, it was 2017% at the end of 9,5) and XNUMX net.
Bperfinally, it reduced the stock by 1,6 billion gross (-15,2%) and 1,6 billion net (-29,6%), remaining with a residual aggregate of 8,9 billion gross (17,4% of credits, from 19,9% at the end of 2017) and 3,8 net.
