European Commission approves the 2017-2021 BMPS restructuring plan

BMPS got finally the green light for its restructuring  plan from European Commission.

Key highlights:

  • Disposal of €28.6bn gross bad loans (data as of 31 December 2016), of which €26.1bn by means of a securitisation transaction and €2.5bn, including unsecured small tickets and leasing, to be disposed of through a separate procedure
  • Sale of the securitisation Junior and Mezzanine notes at a price equal to
    21% of GBV to Atlante II and deconsolidation of the bad loan portfolio
    expected by 1H 2018
  • Strengthening of capital position and liquidity with 2021 target: CET1 at
    14.7%, loan/deposit ratio <90% and Liquidity Coverage Ratio >150%
  • 2021 net income above €1.2bn, with a ROE equal to 10.7%
  • The Restructuring Plan incorporates the requests included in the 2017
    SREP decision, the results of the ECB inspection, recently carried out,
    and the Commitments to DG Comp

The main economic data and some KPIs of the Restructuring Plan are summarised in the
following table:

Cattura

Read more in the full press release

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@massimofamularo

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GLG – Gerson Lehrman Group – Council Member

About Massimo Famularo

Investment Manager and Blogger Focus on Distressed Assets and Non Performing Loans Interested in Politics, Economics,
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