The Minister of Economy and Finance, Pier Carlo Padoan, signed the decree allowing the transfer to the Company for Asset Management - Sga Spa of the non-performing loans of Veneto Banca spa and Banca Popolare di Vicenza spa, both in compulsory liquidation administrative. The Ministry of the Economy communicates this in a note, explaining that the transferable credits are those classified as non-performing on the start date of the compulsory administrative liquidation? The decree is now being sent to the Court of Auditors for registration.
The completion of the sale will allow Sga to take over the management of the loan portfolio, optimizing the recovery prospects, also through credit restructuring operations, to the benefit of the liquidations and of the State of these creditors.
