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Banca Piccolo Credito Valtellinese SpA (PCVI.MI)

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Latest Key Developments (Source: Significant Developments)

Shares in Creval down after H1 net loss
Monday, 7 Aug 2017 03:16am EDT 

Aug 7 (Reuters) - Banca Piccolo Credito Valtellinese::Shares down 1.8 pct in early trade after H1 results.The bank reported on Friday after markets closed a first-half loss of 195 million euros due hit by loan writedowns. nI6N1KH01L.  Full Article

Creval says H1 net loss 195 mln euros
Friday, 4 Aug 2017 11:39am EDT 

Aug 4 (Reuters) - Banca Piccolo Credito Valtellinese Spa says::phased-in CET 1 ratio 10.8 percent end-June versus 11.6 percent at end-March.H1 net loss 195 million euros.loan writedowns 369 million euros in H1.impaired loan coverage ratio 41 percent at end-June.gross impaired loans 4 billion euros.  Full Article

Moody's rates Creval's bad loan securitisation deal
Friday, 14 Jul 2017 06:48am EDT 

July 14 (Reuters) - Italian lender Credito Valtellinese (Creval)::Moody's says rated notes issued by Elrond NPL 2017 vehicle as part of a bad loan securitisation by Creval.Rated 464.0 million euro senior tranche at 'Baa3'.Rated 42.5 million euro mezzanine tranche at B1.Did not rate 20.0 million euro junior tranche.The assets supporting the notes are non-performing loans with a gross book value of 1.405 million euros of which 30.8 million euros of cash in court.Loans representing around 26.5 percent of the gross book value are unsecured, while the remaining 73.5 percent of the gross book value are secured loans.  Full Article

Italy's Creval closes sale of 1.4 bln euro bad loan portfolio
Friday, 14 Jul 2017 01:21am EDT 

Italy's Credito Valtellinese (CREVAL) says: :has closed sale of bad loan portfolio worth 1.4 billion euros ($1.60 billion) through securitisation and use of state-guarantee on senior tranches.transaction results in overall negative impact of approximately 120 basis points on CET1 ratio.sale in line with objectives set out by lender's 2017-18 business plan .made through transfer to a special purpose vehicle.senior tranche worth 464 million euros.deconsolidation of portfolio determines improvement of the gross NPL ratio to an estimated 21.2 percent from 27.2 percent at March 31, 2017.General Manager Mauro Salvetti says transaction is "key step in the de-risking of the bank's balance sheet... improved asset quality level of the group by bringing the NPL ratio back to a level that is similar to Creval's direct peers"..  Full Article

Creval sees sale of 1.5 bln euro bad loans at 29 pct in H1
Tuesday, 9 May 2017 12:22pm EDT 

May 9 (Reuters) - Creval Director General Mauro Selvetti tells analyst call::Expects to close sale of 1.5 billion euros in gross bad loans in H1.Still confident it can sell portfolio at around 29 percent of nominal value.  Full Article

Creval says Q1 net profit halves to 2.4 mln euros
Tuesday, 9 May 2017 11:23am EDT 

May 9 (Reuters) - Banca Piccolo Credito Valtellinese::Q1 net income 2.4 million euros from 5.1 million euros in Q1 2016.Net interest income down 7 percent to 99.7 million euros.Phased-in CET1 1 ratio at 11.6 percent at end-March vs 11.8 pct at end-December.Gross problem loans at 5.3 billion euros from 5.6 billion euros at end-2016 .Problem loan coverage ratio 41.6 percent from 41.5 percent (or 43.9 pct vs 43.2 percent when including write-offs).Q1 loan and other financial asset writedowns 48 million euros.New loans for 625 million euros .  Full Article

Creval says CET1 requirement following SREP process set at 7.75 pct
Wednesday, 29 Mar 2017 11:36am EDT 

Banca Piccolo Credito Valtellinese: CET1 requirement set at 7.75 percent for bank from March 31 following SREP process . Bank's phased-in CET1 ratio stood at 11.78 percent at end-2016 Further company coverage: [PCVI.MI] (Reporting by Milan Newsroom).  Full Article

Italy's Creval posts 2016 loss of 333 mln euros
Thursday, 9 Feb 2017 12:03pm EST 

Banca Piccolo Credito Valtellinese says: 2016 net loss 333 million euros vs net income of 118.3 mln euros in 2015 . 2016 loan writedowns 467 mln euros. . Booked goodwill impairment of 69 mln euros . Phased-in CET1 ratio at end-2016 11.8 percent versus 12.4 percent at end-September . Wrote down Atlante stake by 17.6 mln euros, or 36 pct of the 48.7 mln euros it paid into the fund during the year . Operating revenue 708 mln euros, down 17 percent partly due to losses on loan disposals . Bad loan coverage 54.4 pct at end-2016 vs 57.1 pct at end-2015, overall doubtful loan coverage 41.5 pct from 40.3 pct .Cost of credit 268 bps in 2016 vs 231 bps in 2015.  Full Article

Italy's Creval says BPER's approach needs to be more concrete
Wednesday, 30 Nov 2016 06:13am EST 

Banca Piccolo Credito Valtellinese Managing Director Mauro Selvetti says : the approach made by Banca Popolare dell'Emilia Romagna for a tie up needs to be more concrete before his bank evaluates it Further company coverage: [PCVI.MI] [EMII.MI] (Reporting by Milan newsroom).  Full Article

Creval Q3 net loss at 155 mln euros
Wednesday, 9 Nov 2016 01:53am EST 

Banca Piccolo Credito Valtellinese says: Q3 net loss at 155.2 million euros vs net profit of 11.9 million euros in the same period last year . fully-loaded CET 1 ratio at 12.4 percent at end-September . Coverage ratio of bad loans at 53.9 percent at end-Sept . Coverage ratio of net non-performing loans at 40.3 percent at end-Sept Further company coverage: [PCVI.MI] (Reporting by Milan newsroom).  Full Article

UPDATE 1-Shares in Italy's Creval rise after it cuts bad loan burden

MILAN, July 14 Shares in Italy's Creval rose 5 percent on Friday after the mid-tier regional bank said it had completed a deal to shed 1.4 billion euros ($1.6 bln) of soured loans.