Italy:Financial Sector Assessment Program-Technical Note-Tackling Non-Performing Assets

Financial Sector Assessment Program-Technical Note-Tackling Non-Performing Assets

Volume/Issue: Volume 2020 Issue 234

Publication date: August 2020

ISBN: 9781513552156

$18.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Finance , ISCR , CR , D , enterprise insolvency , enterprise court , debtor company , unviable firm , enterprise matter , UTP portfolio , directors of the sign , enterprise activity , distressed enterprise , market value , enterprises to the court , bank supervisor , Nonperforming loans , Solvency , Distressed assets , Loans , Collateral , Europe , Global , Corporate insolvency

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Summary

Banks’ asset quality has substantially improved in recent years but remains well below European peers. Non-performing loans (NPLs) fell from 16½ percent in 2015 to about 8.1 percent at end-June 2019, achieved mainly through €145 billion of private NPL sales. This is a substantial reduction by any standard, though NPLs remain well above the 3.0 percent average of the main European Union (EU) banks as of June 2019. New NPL formation has fallen to pre-crisis levels. Provisioning coverage was 52.5 percent as of June 2019, placing Italy 7.6 percentage points above the average of the main EU banks.