YARD Credit & Asset Management as advisor of Credito Valtellinese in the signing of an agreement regarding the disposal of the “San Marco” portfolio

27 December 2016

YARD Credit & Asset Management has supported Creval in the signing of an agreement regarding the disposal of the “San Marco” portfolio, consisting mainly in non performing secured loans.

Said portfolio consists of about 350 loan agreements, nearly all classified as “unlikely to pay”, primarily towards companies in the real estate sector, mainly for housing purposes, and for the remaining part related to mortgages granted to private clients and retail companies, and has a gross book value (GBV) of approximately 105 million Euro, out of the overall portfolio value of nearly 43% of the GBV secured.

The agreement is fully consistent with the Creval Group’s targets to sell non performing loans, even more in the context of the strategic partnership with YARD Credit & Asset Management for the proactive management of the Creval Group distressed real estate loans.

The collaboration has already seen YARD Credit & Asset Management’s support in the portfolio management of unlikely to pay loans, whose dismissal requires a completely new approach, more marked by the logic of asset management, aimed at enhancing dynamically real estate as guarantee assets, avoiding their progressive deterioration and the simultaneous increase of the risk costs.

Among the objectives, that of deleveraging and derisking, in which the YARD Credit & Asset Management model sees the interaction of three phases:

  1. portfolio assessment
  2. identification of the way out strategies
  3. implementation of the actions relating to the placement of assets on the market.

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ADVISORY ON THE SALE OF SECURED LOANS PORTFOLIOS