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Banca Piccolo Credito Valtellinese SpA (PCVI.MI)

PCVI.MI on Milan Stock Exchange

22 May 2017
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Latest Key Developments (Source: Significant Developments)

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

Creval net profit more than halved in H1
Friday, 5 Aug 2016 12:02pm EDT 

Credito Valtellinese says: Net profit comes in at 19.1 million euros in the first half compared with a 50.8 million euro profit in the same period of last year . H1 net interest income falls 11 percent year-on-year to 211 million euros . H1 net fees down 3.5 percent, operating income falls 12.5 percent . has booked a net gain of 26 million euros on the sale of stake in Visa Europe . H1 writedowns on loans and financial assets 152 million euros . Fully-loaded CET 1 ratio at end-June 13.1 percent . has sold 430 mln euros bad loans and a disposal process of further 180 million euro of unlikely-to-pay is underway . Coverage of bad loans at 52.8 percent at end-June, other doubtful loans covered at 23.4 percent Further company coverage: [PCVI.MI] (Reporting by Milan newsroom).  Full Article

Italy's Consob bans short selling of Telecom Italia, Creval
Wednesday, 6 Jul 2016 02:28pm EDT 

Italy's market watchdog Consob says: bans short selling of Telecom Italia's and Credito Valtellinese's shares on July 7 Further company coverage: [TLIT.MI][PCVI.MI] (Reporting by Milan newsroom).  Full Article

Creval sells 2 pct of Anima at 5.5 euros a share
Friday, 27 May 2016 01:58am EDT 

Credito Valtellinese says: Completed sale of 2 percent stake in Anima Holding through accelerated book-building procedure .Sold Anima Holding shares at 5.5 euros each raising 33 million euros.  Full Article

Italy's Creval starts placement of 2 pct stake in Anima
Thursday, 26 May 2016 11:45am EDT 

Credito Valtellinese says: starts placement of 2 percent stake in Anima . transaction coordinated by joint bookrunners Banca IMI and Equita .Creval has signed lock-up deal for 90 days over remaining 0.8 pct stake in Anima.  Full Article

More From Around the Web

Italy's Creval seen marketing 150 mln euro junior bond, 8.5 pct coupon

MILAN, April 5 Italian mid-sized bank Credito Valtellinese is offering a subordinated bond worth 150 million euros ($160 million) with a 10-year maturity and an 8.5 percent coupon, market sources said.