80290
Italian Banks Return to Profits
Italian Banks Return to Profits

Italian Banks Return to Profits

Italian Banks Return to Profits

Italian banks are looking healthier now than they have for the past few years and will continue to heal in 2018, Standard & Poor’s Global Ratings said in a report on Tuesday evening, Xinhua reported. The ratings agency said improved private-sector creditworthiness, coupled with banks’ efforts to repair their balance sheets, have paved the way for “a return to some moderate profitability” in the current year. Lenders strengthened their capital, bolstered loan-loss reserves, reduced their stocks of nonperforming loans, and cut costs, according to S&P analysts. On the downside, S&P estimated that at year-end 2017, banks still held toxic loans worth €275 billion ($336.4 billion) on their books.
This was down from €349 billion worth of gross NPLs held by Italy’s banks at the end of 2016, according to the finance ministry’s 2017 economic and financial document.
Italy is slowly pulling out of two economic recessions that were sparked by the global financial crisis of 2008 and by the sovereign debt crisis of 2010.

Short URL : https://goo.gl/qg3baX
  1. https://goo.gl/NCsJv2
  • https://goo.gl/oUmEcR
  • https://goo.gl/dcG6mK
  • https://goo.gl/wg2T9p
  • https://goo.gl/AdTCbN

You can also read ...

The treasury department in Washington
Foreign governments pulled back their purchases of longer-term...
Shares of petrochemical companies in Asia slumped on Tuesday, tracking the global equity downturn overnight.
The trade dispute between the world’s two largest economies...
Brazil, India Corporate Debt at Risk of Default
A 200 basis-point increase in interest rates could spark a...
Six people including two former HBOS bankers were jailed last year.
An internal Lloyds Banking Group report written by a former...
China Accuses Trump of Blackmail, Vows Strong Retaliation
China vowed to retaliate after President Donald Trump...
London Metals Cut Losses
London metals edged higher and Shanghai contracts cut early...
Mario Draghi
Mario Draghi promised that the European Central Bank will take...
BoK Hints at Rate Increase
Bank of Korea Gov. Lee Ju-yeol indicated Tuesday that the bank...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus