In the strategic plan to 2020, Banca Carige envisages a capital strengthening through a capital increase "up to 450 million" possibly accompanied by a liability management exercise. Furthermore, the deconsolidation of the business unit which includes the non-performing portfolio is envisaged. These are the measures approved yesterday by the bank's board of directors following the ECB's request to update the plan to comply with the new Frankfurt guidelines in terms of reducing problem loans.
For NPLs, Carige envisages the "establishment of a new organizational unit dedicated to the management of the categories of non-performing loans not transferred to the vehicle". The financial targets for 2020 envisage above all revenues of 756 million (+5,3% the expected average annual growth), operating costs of 477 million (-4% annual average) and a cost income of 59,8%. At the end of the plan, the group aims to achieve an estimated result of 170 million with a return on equity of 7,4%.
