Banco Bpm accelerates the disposal of non-performing loans. According to some rumors, the institute is said to be securitizing a portfolio of 3 billion Npl, assisted by public guarantees (Gacs). The transaction, for which the due diligence is in the initial stages, should be completed in the first half of 2018.
A second operation would concern a package of unsecured non-performing loans with a nominal value of approximately 2 billion euro, which could be completed by the end of the year.
Banco Bpm's management aims to reduce NPLs by 8 billion by 2019. Considering the operations in progress and those already completed - the sale of 700 million of non-performing loans to Algebris and 641 million to Hoist - it is plausible to hypothesize that the goal is achieved in advance.
Yet, the group's stock did not react to the news and by mid-morning it had dropped by 0,8% to 3,056 euros.
