“They are not foreseen in the horizon of the plan capital measures”. This was announced on Thursday by Guido Bastianini, CEO of Carige Bank, presenting the institute's industrial plan to 2020. Any measures of this type, added the manager, "will be used only if they are deemed necessary".
Instead, the plan provides the disposal of a part of the Npl portfolio for approximately 1,8 billion, of which 900 million by the end of 2016 and the remainder in the second half of 2017.
As for job cuts, Carige's HR reorganization will push through group personnel from 5.034 to approximately 4.520 people at the end of the floor.
The organizational interventions – related among other things to the closure of 106 branches, with the network going down to 500 branches in 2020 – will involve around 700 people, while the entry of around 270 resources is expected, between generational turnover and new professional figures.
The cost of labor will thus go from 354 million in 2015 to 325 million in 2020. The plan developed by Carige estimates profits to 163 million in 2020 and 68 million in 2018.
On the property side, the Common Equity Tier 1 of Carige, indicated at 12,2% at the end of 2015 and at 12,4% at the end of March, should decrease to 10,3% in 2017 and then rise again to 11,5% at the end of the plan. The contraction in 2017 includes the impact deriving from the expected losses on the disposal of the non-performing loan portfolios. The institute has estimated these losses at 10% of the nominal value and therefore around 180 million.
