Banco Bpm: securitization of a 1.5 billion non-performing loan portfolio completed

Banco BPM completed the securitization transaction (Project Rockets) of a portfolio of loans classified as non-performing with a gross amount (GBV) of € 1.5 billion, of which approximately half unsecured.
With the completion of Project Rockets, based on the data as at 31 March 2021, Banco BPM’s gross non-performing loans fall to 2.1 billion euros, equal to 1.8% of total loans, and the bank reaches a gross NPE Ratio 6.3% (adjusted 5.3% calculated according to the EBA1 method), a clear decrease compared to 24.1% as of January 1, 2017.