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BRIEF-Italy's Creval posts 2016 loss of 333 mln euros
February 9, 2017 / 5:23 PM / 7 months ago

BRIEF-Italy's Creval posts 2016 loss of 333 mln euros

Feb 9 (Reuters) - Banca Piccolo Credito Valtellinese says:

* 2016 net loss 333 million euros vs net income of 118.3 mln euros in 2015

* 2016 loan writedowns 467 mln euros.

* Booked goodwill impairment of 69 mln euros

* Phased-in CET1 ratio at end-2016 11.8 percent versus 12.4 percent at end-September

* Wrote down Atlante stake by 17.6 mln euros, or 36 pct of the 48.7 mln euros it paid into the fund during the year

* Operating revenue 708 mln euros, down 17 percent partly due to losses on loan disposals

* Bad loan coverage 54.4 pct at end-2016 vs 57.1 pct at end-2015, overall doubtful loan coverage 41.5 pct from 40.3 pct

* Cost of credit 268 bps in 2016 vs 231 bps in 2015 Source text for Eikon: Further company coverage: (Reporting by Milan Newsroom)

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