Intesa Sanpaolo slashed bad loans 26% last year
NPL ratio plummets to 4.2% from 6.2% in 2017
Intesa Sanpaolo cut back its holdings of bad loans by €6 billion ($6.8 billion), or 26%, in 2018, reducing the amount of non-performing loans for a 13th consecutive quarter to the lowest level since 2009.
Net on-balance sheet NPLs shrunk to €16.6 billion by the end of the fourth quarter, down from €22.5 billion the year-ago quarter. The bank shed €1.2 billion (7%) of soured loans in the fourth quarter alone.
At end-December, the ratio of NPLs to total exposures fell to 4.2%, from 4.5% in the
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