UniCredit Says Bad-Loan Coverage Meets ECB Guidelines
January 16 2019 - 2:47AM
Dow Jones News
By Nathan Allen
UniCredit SpA (UCG.MI) said Wednesday that its exposure to bad
loans complies with guidelines set out by the European Central
Bank, which were reported in Italian media yesterday but
unconfirmed by the ECB.
The Italian lender said it reduced its nonperforming-exposure
portfolio by more than 36 billion euros between the third quarter
of 2016 and the third quarter of 2018, bringing its core bank NPE
ratio down to 4.3%.
"Consequently, UniCredit considers its NPE coverage fully
adequate," the bank said.
Shares in Italian banks fell sharply Tuesday after newspaper Il
Sole 24 Ore reported that the ECB told its supervised Italian
lenders they must fully cover their exposure to all existing and
future nonperforming loans by 2026.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
January 16, 2019 02:32 ET (07:32 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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