The State assumes closing the liquidation of Veneto Banca and Popolare di Vicenza with a positive margin of 700 million, with recoveries of impaired loans and equity investments of 11,6 billion against commitments of 10,9 which include money and guarantees for Agreement SP.
The scenario of the Ministry of Economy it is contained in the technical report to the decree law passed on 25 June. Gross non-performing loans included in assets to be liquidated amounted to 17,8 billion and mainly referred to the two parent companies, Banca Nuova and Banca Apulia.
Assuming recovery rates for bad loans and probable defaults of just under 50%, in line with those historically achieved by Italian banks, the State could recover "9,6 billion for Italian banks, of which 4,2 billion from bad loans and 5,4 ,XNUMX on probable defaults”.
For foreign banks and for the non-performing loans of the business unit, the Treasury assumes another 300 million. The report also draws a recovery curve over time which foresees the collection of almost 80% of the receivables within the fifth year of management.
According to what the document claims, the total realization therefore comes to 11,6 billion also considering the expected recovery from shareholdings and equity, equal to 1,7 billion. In the face of this, the State has to meet commitments for 10,9 billion, which include the capital strengthening of Intesa San Paolo, the transfer imbalance and other guarantees on performing loans and due diligence.
