In 2015, FBS SpA (FBS) reviewed and strengthened its governance and internal controls system as a result of the updated Italian banking law regulation that will be enforced in 2016. Among other remedies, FBS has internalized its risk management function, created a separate compliance function, and applied a risk-based audit approach. In June 2015, FBS' portfolio increased to €5.03 billion from €4.24 billion at the end of 2014. FBS has reported a positive gross book value (GBV) growth in its residential and commercial portfolio over the past three years. During the first half of 2015, the company registered an increase in its volume of consumer loans after it dropped at the end of 2014. This was a direct consequence of
