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Banca Piccolo Credito Valtellinese SpA (PCVI.MI)

PCVI.MI on Milan Stock Exchange

1.32EUR
11 Dec 2017
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1,476,137
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€5.28
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€0.86

Latest Key Developments (Source: Significant Developments)

Creval to sell portfolio of unlikely-to-pay loans to Hoist Finance
Tuesday, 5 Dec 2017 08:19am EST 

Dec 5 (Reuters) - Banca Piccolo Credito Valtellinese says::REACHES AGREEMENT TO SELL PORTFOLIO OF UNLIKELY TO PAY LOANS WITH GROSS VALUE OF 24 MILLION EUROS.SOLD THE PORTFOLIO TO HOIST FINANCE .  Full Article

Creval Signs Agreement to Sell Secured NPE Portfolio with GBV of EUR 24 mln
Tuesday, 5 Dec 2017 08:19am EST 

Dec 5 (Reuters) - CREVAL ::SIGNS AGREEMENT FOR SALE OF PORTFOLIO OF NON PERFORMING SECURED EXPOSURES TO HOIST FINANCE.PORTFOLIO PRICE AT NEARLY 58% OF GROSS BOOK VALUE.PORTFOLIO OF SECURED NON PERFORMING LOANS HAS GROSS BOOK VALUE OF ABOUT EUR 24 MILLION.PORTFOLIO CONSISTS OF ABOUT 140 RETAIL RECEIVABLES, WITH UNDERLYING ASSETS WITH RESIDENTIAL DESTINATION MAINLY.EFFECTS OF OPERATION ARE DUE TO BE RECORDED IN THE INCOME STATEMENT OF THE CURRENT FINANCIAL YEAR.  Full Article

Citigroup joins guarantee consortium for Creval's cash call
Wednesday, 29 Nov 2017 12:01pm EST 

Nov 29 (Reuters) - Banca Piccolo Credito Valtellinese says::CITIGROUP JOINS GUARANTEE CONSORTIUM FOR CREVAL'S CASH CALL .CITIGROUP HAS SIGNED PRE-UNDERWRITING ACCORD WITH CREVAL IN LINE WITH ONE ALREADY SIGNED BY MEDIOBANCA .  Full Article

Moody's sees "material execution risk" in Creval's planned share issue
Friday, 17 Nov 2017 12:32pm EST 

Nov 17 (Reuters) - Banca Piccolo Credito Valtellinese (Creval)::Moody's says sees material execution risk in Creval's new share issue.Moody's says it understands Mediobanca's pre-underwriting commitment is subject to market conditions but also specific provisions.Moody's says specific provisions include market environment, investor feedback and any events such as significant regulatory changes.Moody's says Creval has satisfactory liquidity position.  Full Article

DBRS downgrades Creval’s ratings to 'BB'
Wednesday, 15 Nov 2017 03:48pm EST 

Nov 15 (Reuters) - Banca Piccolo Credito Valtellinese (Creval) says: :ratings agency DBRS downgrades Creval’s ratings to "BB" from "BB (high)", under review with negative implications.  Full Article

Creval wants to solve non-performing loan problem definitively - conf call
Tuesday, 7 Nov 2017 01:13pm EST 

Nov 7 (Reuters) - CREVAL ::PROCESS FOR SALE OF 1.6 BILLION EURO NON-PERFORMING LOANS WITH GACS HAS STARTED, PRICES EXPECTED BETWEEN 30-35 PERCENT OF GROSS BOOK VALUE - GENERAL MANAGER (NOT CEO)‍​‍​.EXPECTS PRICES FOR SALE OF FURTHER 500 MILLION EUROS OF NON-PERFORMING LOANS AT 20-25 PERCENT OF GROSS BOOK VALUE - CONF CALL‍​‍​.EXPECTS COST OF RISK AT 2020 AT 64 BASIS POINTS - CONF CALL.WANTS TO SOLVE NON-PERFORMING LOAN PROBLEM DEFINITIVELY - GENERAL MANAGER.  Full Article

Creval plans 700 mln euro capital increase in 2018-2020 business plan‍​
Tuesday, 7 Nov 2017 11:48am EST 

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​.  Full Article

Creval gross non-performing loans at end of Sept. at EUR 4‍​ bln
Tuesday, 7 Nov 2017 11:37am EST 

Nov 7 (Reuters) - CREVAL ::GROSS NON-PERFORMING LOANS AT SEPT-END EUR 4‍​ BILLION FROM EUR 4 BILLION EUROS AT JUNE-END.NPL RATIO AT SEPT-END 21‍​ PERCENT.PHASED-IN COMMON EQUITY TIER1 RATIO 9.4‍​ PERCENT AT SEPT-END.9-MONTH NET LOSS EUR 402.6‍​ MILLION VERSUS LOSS EUR 136.0 MILLION YEAR AGO.9-MONTH NET IMPAIRMENT LOSSES EUR 386.1‍​ MILLION VERSUS LOSS EUR 388.7 MILLION YEAR AGO.ACTIVITIES FOR REMAINDER OF YEAR WILL BE GUIDED BY ACHIEVEMENT OF OBJECTIVES OF 2018-2020 BUSINESS PLAN‍​.  Full Article

Italy's Creval gets GACS state guarantee, lifts pro-forma CET1 to 10.8 pct
Friday, 29 Sep 2017 08:53am EDT 

Sept 29 (Reuters) - Italy's regional lender Creval says::obtains GACS state guarantee on 464 million euro senior tranche in 1.4 billion euro bad loan securitisation.GACS state guarantee adds around 20 basis points to bank's CET1 capital ratio, implying a pro-forma ratio of 10.8 percent based on risk-weighted assets as June 30, 2017..  Full Article

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