November 7, 2017 / 5:12 PM / a month ago

BRIEF-Creval plans 700 mln euro capital increase in 2018-2020 business plan‍​

Nov 7 (Reuters) - CREVAL:

* PLANS 700 MILLION EURO CAPITAL INCREASE IN 2018-2020 INDUSTRIAL PLAN‍​

* SIGNED PRE-UNDERWRITING AGREEMENT WITH MEDIOBANCA ‍​

* PLANS TO REACH CET1 RATIO FULLY LOADED OVER 11 PERCENT AT 2018-END, 11.6 PERCENT AT 2020-END

* ‍TARGETS GROSS NPE RATIO 10.6 PERCENT AT END-2018, 9.6 PERCENT AT END-2020

* ‍TARGETS BAD LOAN COVERAGE RATIO OF 74.2 PERCENT AT END-2018, 77.7 PERCENT AT END-2020

* ‍TARGETS UNLIKELY TO PAY COVERAGE RATIO OF 47 PERCENT AT END-2020

* TARGETS SHUTTING DOWN ANOTHER 88 BRANCHES WITH TARGET OF 350 UNITS BY END-2018‍​

* TARGETS ROTE OF 8.2 PERCENT IN 2020, COST-INCOME RATIO OF 57.5 PCT‍​

* TARGETS 150 MILLION EURO PROFIT IN 2020‍​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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