Home » Utp, with the crisis doubling of the masses towards 100 billion

Utp, with the crisis doubling of the masses towards 100 billion

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Listed in Italy

UTPs, unlikely-to-pay credits, are a determining factor for the recovery. A treasury of 60 billion in loans to companies in difficulty but not compromised which – if recovered in time – can play a decisive role for the future of the Italian production system. Utp Forum organized by Il Sole 24 Ore, which sees professionals, market operators and consultants compared throughout the morning.The event sees as Main Partner Generalfinance, KPMG, Prelios Group and as Official Partner Banca Finint, Hera Holding, Intrum.

by Drafting Finance & Markets and Drafting of Laws & Taxes

  • The growing interest in the real estate

    Real estate deserves a separate chapter, a segment in which Fabio Panzeri, General Manager Servicing & Operations of the Prelios Group sees «a growing interest in distressed assets. Also because now the theme of portfolios is gaining ground on the market: the entry of more complex assets will certainly favor the acceleration of this market as well ». Oscar Pittini, president of Hera Holding agrees: «The industry is being structured, and with it the awareness of its relevance. Restarting a real estate asset means moving an important induced with significant social and economic repercussions ».

  • The point of view of the investors: that of the UTPs is not a market for speculators

    “With unlikely to pay credits there is a real value to be recovered that is still inherent in the company, which needs time, which is why it is not a market for opportunistic investors”. Stefano Agnoli, Partner Cappelli RCCD Studio Legale, sends a clear message. His is a legal point of view, but investors also subscribe. Like Marco Raccah, General Manager of Aurora Recovery Capital, who does not hesitate to speak of “the social responsibility of the UTP, which is often a mirror of the country and its potential”. O Giovanni Gilli, president of Intrum Italy: «The time has come to widen the audience of investors to whom to offer the UTPs, and the track record still does not help. But a virtuous process has been triggered that can continue, especially if the regulator does not press the banks to give up more than is needed ». For Guido Lombardo, Credito Fondiario’s chief investment officer, “another decisive element for the return of those who invest is the quality of the platform, the best guarantee of optimal management of the underlying and therefore of possible returns”.

  • Turin (Kpmg): with the UTPs it is necessary to develop ad hoc solutions

    The forecasts drawn up by Kpmg also point to a stock of UTPs of around 100 billion, a worst-case scenario within a fork that points to a surge from 48.9 billion at the end of 2020 to 55-100 billion post-crisis. Everything will depend on the evolution of the business cycle. On the other hand, the need for an enlargement of the toolbox is indisputable: «In general – explains Domenico Torini, Kpmg Advisory partner, Head of Global Portfolio Solutions Group – we need an approach that fully enhances the role of investors. Restructuring will record a path of growth and progressive specialization in order to guarantee ad hoc measures, with a different mix of equity and debt according to the different schemes “.

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