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Banca Piccolo Credito Valtellinese SpA (PCVI.MI)

PCVI.MI on Milan Stock Exchange

9.60EUR
2:24pm GMT
Change (% chg)

€0.15 (+1.59%)
Prev Close
€9.44
Open
€9.46
Day's High
€9.66
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€9.01
Volume
188,624
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166,109
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€52.75
52-wk Low
€8.60

Latest Key Developments (Source: Significant Developments)

Creval Reverse Stock Split Starts From Jan. 8, 2018
Thursday, 21 Dec 2017 

Dec 21 (Reuters) - CREVAL ::STARTING FROM 8 JAN 2018 REVERSE STOCK SPLIT WILL BE EFFECTIVE.REVERSE STOCK SPLIT OF 110.9 MILLION ORDINARY SHARES TO BE EXECUTED ON BASIS OF 1 NEW SHARE EVERY 10 EXISTING SHARES.AS RESULT OF REVERSE STOCK SPLIT, SHARE CAPITAL WILL REMAIN UNCHANGED AND EQUAL TO EUR 1.85 BILLION.AS A RESULT OF REVERSE STOCK SPLIT, CAPITAL TO BE DIVIDED INTO 11,088,723 ORDINARY SHARES.  Full Article

Creval ‍says It Examined And Approved Merger By Incorporation Of Its 98.5 pct Controlled Company Credito Siciliano ​
Wednesday, 20 Dec 2017 

Dec 20 (Reuters) - Creval ::‍ CO EXAMINED AND APPROVED MERGER BY INCORPORATION OF ITS 98,55% CONTROLLED COMPANY CREDITO SICILIANO S.P.A.​.  Full Article

Creval aims to wrap up cash call before Italian elections
Tuesday, 19 Dec 2017 

Dec 19 (Reuters) - The chairman of Banca Piccolo Credito Valtellinese (Creval) Miro Fiordi says::CREVAL AIMS TO WRAP UP CASH CALL BEFORE ITALIAN GENERAL ELECTIONS.CREVAL TO ASSESS POSSIBLE M&A OPERATIONS AFTER SUMMER.  Full Article

Creval to sell portfolio of unlikely-to-pay loans to Hoist Finance
Tuesday, 5 Dec 2017 

Dec 5 (Reuters) - Banca Piccolo Credito Valtellinese says::REACHES AGREEMENT TO SELL PORTFOLIO OF UNLIKELY TO PAY LOANS WITH GROSS VALUE OF 24 MILLION EUROS.SOLD THE PORTFOLIO TO HOIST FINANCE .  Full Article

Creval Signs Agreement to Sell Secured NPE Portfolio with GBV of EUR 24 mln
Tuesday, 5 Dec 2017 

Dec 5 (Reuters) - CREVAL ::SIGNS AGREEMENT FOR SALE OF PORTFOLIO OF NON PERFORMING SECURED EXPOSURES TO HOIST FINANCE.PORTFOLIO PRICE AT NEARLY 58% OF GROSS BOOK VALUE.PORTFOLIO OF SECURED NON PERFORMING LOANS HAS GROSS BOOK VALUE OF ABOUT EUR 24 MILLION.PORTFOLIO CONSISTS OF ABOUT 140 RETAIL RECEIVABLES, WITH UNDERLYING ASSETS WITH RESIDENTIAL DESTINATION MAINLY.EFFECTS OF OPERATION ARE DUE TO BE RECORDED IN THE INCOME STATEMENT OF THE CURRENT FINANCIAL YEAR.  Full Article

Citigroup joins guarantee consortium for Creval's cash call
Wednesday, 29 Nov 2017 

Nov 29 (Reuters) - Banca Piccolo Credito Valtellinese says::CITIGROUP JOINS GUARANTEE CONSORTIUM FOR CREVAL'S CASH CALL .CITIGROUP HAS SIGNED PRE-UNDERWRITING ACCORD WITH CREVAL IN LINE WITH ONE ALREADY SIGNED BY MEDIOBANCA .  Full Article

Moody's sees "material execution risk" in Creval's planned share issue
Friday, 17 Nov 2017 

Nov 17 (Reuters) - Banca Piccolo Credito Valtellinese (Creval)::Moody's says sees material execution risk in Creval's new share issue.Moody's says it understands Mediobanca's pre-underwriting commitment is subject to market conditions but also specific provisions.Moody's says specific provisions include market environment, investor feedback and any events such as significant regulatory changes.Moody's says Creval has satisfactory liquidity position.  Full Article

DBRS downgrades Creval’s ratings to 'BB'
Wednesday, 15 Nov 2017 

Nov 15 (Reuters) - Banca Piccolo Credito Valtellinese (Creval) says: :ratings agency DBRS downgrades Creval’s ratings to "BB" from "BB (high)", under review with negative implications.  Full Article

Creval wants to solve non-performing loan problem definitively - conf call
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - CREVAL ::PROCESS FOR SALE OF 1.6 BILLION EURO NON-PERFORMING LOANS WITH GACS HAS STARTED, PRICES EXPECTED BETWEEN 30-35 PERCENT OF GROSS BOOK VALUE - GENERAL MANAGER (NOT CEO)‍​‍​.EXPECTS PRICES FOR SALE OF FURTHER 500 MILLION EUROS OF NON-PERFORMING LOANS AT 20-25 PERCENT OF GROSS BOOK VALUE - CONF CALL‍​‍​.EXPECTS COST OF RISK AT 2020 AT 64 BASIS POINTS - CONF CALL.WANTS TO SOLVE NON-PERFORMING LOAN PROBLEM DEFINITIVELY - GENERAL MANAGER.  Full Article

Creval plans 700 mln euro capital increase in 2018-2020 business plan‍​
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - CREVAL ::PLANS 700 MILLION EURO CAPITAL INCREASE IN 2018-2020 INDUSTRIAL PLAN‍​.SIGNED PRE-UNDERWRITING AGREEMENT WITH MEDIOBANCA ‍​.PLANS TO REACH CET1 RATIO FULLY LOADED OVER 11 PERCENT AT 2018-END, 11.6 PERCENT AT 2020-END.‍TARGETS GROSS NPE RATIO 10.6 PERCENT AT END-2018, 9.6 PERCENT AT END-2020.‍TARGETS BAD LOAN COVERAGE RATIO OF 74.2 PERCENT AT END-2018, 77.7 PERCENT AT END-2020.‍TARGETS UNLIKELY TO PAY COVERAGE RATIO OF 47 PERCENT AT END-2020.TARGETS SHUTTING DOWN ANOTHER 88 BRANCHES WITH TARGET OF 350 UNITS BY END-2018‍​.TARGETS ROTE OF 8.2 PERCENT IN 2020, COST-INCOME RATIO OF 57.5 PCT‍​.TARGETS 150 MILLION EURO PROFIT IN 2020‍​.  Full Article

UPDATE 1-Italy's Creval expects to launch new share issue on Feb. 19 - sources

MILAN, Jan 19 Credito Valtellinese (Creval) expects to launch its planned 700 million euro ($859 million) share sale on Feb. 19, two sources familiar with the matter said, testing investor demand for Italian banks ahead of a general election.