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Italy’s bad loan scheme poised to deliver

Altre News JIACC

A complex scheme Italy conceived to help the country’s banks offload their bad loan mass seems ready at last to deliver on its potential, as the lenders fight their way through a mass of practical problems

Source: Daily Mail – BPM, Italy’s third-largest bank, has started work on a 3.5 billion euro GACS sale to hit the market in 2018 and hopes are high that Italian lenders overall can use the scheme to deal with around 10 times that amount in the coming year. JP Morgan, which together with Mediobanca advised the Treasury on GACS, has predicted the scheme will help Italian banks to sell 30-40 billion euros ($36-$47 billion) in bad debts in the next 12 months

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