Bpm bank the derisking process continues. Following the due diligence process conducted in the past months, on March 11, the institution received qualified bids to purchase a portfolio mainly composed of receivables deriving from leasing contracts classified as non-performing, together with the immovable or movable property and the underlying contracts.
Banco Bpm announces that the Board of Directors has evaluated the offers received from Land Credit and Illimity Bank, "which now allow the bank to continue the derisking action up to a maximum amount equal to approximately 778 million euros".
The BoD therefore mandated the Chief Executive Officer to continue negotiating with potential investors in order to identify an optimal perimeter that allows for adequate valuation of the positions to be sold and, therefore, reaching the best terms and conditions for the disposal of the portfolio.
At the end of the negotiation, "the Board of Directors will examine the outcome of the same for the purpose of approving the transaction, for which no material impacts are expected on the income statement", concludes the note.
