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Report: Creval eyes sale of NPLs worth €2B in H1, chairman says


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Report: Creval eyes sale of NPLs worth €2B in H1, chairman says

Credito Valtellinese SpA Chairman Miro Fiordi said the bank would sell about €2 billion of nonperforming loans in the first half, Reuters reported.

Fiordi also told reporters that the Italian bank will go into discussions about potential M&A deals with its new shareholders, following its earlier €700 million cash call, the March 21 report said. He reportedly added that the capital hike made the bank more attractive to potential suitors.

Creval raised about €582 million during the cash call's offer period between Feb.19 to March 8. Days later, it sold the remaining 1,870,923 unexercised rights.

The chairman said talks with new shareholders will begin in the coming months but the bank is "not in a rush" at the moment, the newswire wrote.