The Creval group closed 2017 with a net loss of 331,8 million euros, compared to 333,1 million liabilities recorded in 2016. This was communicated by the Sondrio institute in a note, specifying that the result is influenced " by the effects of the extraordinary operations carried out in the period, aimed at improving the bank's risk profile" and "by a significant increase in adjustments to" non-performing "loans with a consequent significant increase in overall coverage levels".
In detail, adjustments to loans and other financial assets amounted to 405 million euro (31 million referring to the Atlante fund), while in the fourth quarter of last year Creval achieved a net profit of 70,8 million euro , "in line with the objectives" of the business plan.
As for Creval's economic forecasts, "the Bank's activity and the prospects for the current year will be guided by the achievement of the objectives of the 2018-2020 Business Plan".
