February 9, 2018 / 7:42 AM / in 8 months

BRIEF-UBI Banca To Accelerate NPL Disposal, Targets Gross NPL Ratio Lower Than 10 Pct in 2019-2020

Feb 9 (Reuters) - UBI BANCA:

* PLANS TO SELL SUBSTANTIAL NPL PACKAGE TO ACCELERATE ACHIEVEMENT OF GROSS NPL RATIO OF LESS THAN 10 PERCENT BETWEEN 2019 AND 2020

* FULLY LOADED IMPACT OF FIRST TIME ADOPTION OF IFRS 9 IS EXPECTED TO TOTAL ABOUT -12 BPS ON CET1 IN 2018

* NET NORMALISED RESULT FOR 2018 IS EXPECTED TO SHOW IMPORTANT GROWTH COMPARED WITH THE PREVIOUS YEAR

* OPTS FOR TRANSITIONAL PROVISIONS ALLOWING PHASE-IN OF IFRS9 OVER 5 YRS

* EXPECTED IMPACT ON 2018 REGULATORY CAPITAL OF IFRS9 FIRST TIME ADOPTION IS LOWER THAN -1 BASIS POINT Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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