The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Domenico Santoro - HSBC, Research Division - Analyst
: Just a couple of follow-ups on my side. First of all, I mean, the deleverage, the derisk in the quarter is quite impressive. It's almost EUR 15 billion of
NPE or EUR 14 billion, if I exclude the disposal branches. Can you walk us through these numbers quarter-on-quarter? I mean apart from the EUR
5 billion GACs that you just finalized at the end of the year, how much you intend to do -- to dispose? In a way, how much is already done? I read
the press release of UBI, and I guess there was also GACs involving the NPE of UBI. I know that you are charged already of the losses related to this,
but just to give us a bit an idea again that the deadline for everything is end of 2021.
Then related to this, how much of NII will be lost because of the disposal? And how much you have already considered in the fourth quarter?
Question: Domenico Santoro - HSBC, Research Division - Analyst
: Can I ask you also whether the purchase of Lombarda Vita, the minorities related to Lombarda Vita and Pramerica, they are already accrued in the
capital of this year, please?
Question: Delphine Lee - JPMorgan Chase & Co, Research Division - Analyst
: I just have 2 very quick ones. The first one is just on moratoria. So I just wanted to check the maturity of the EUR 33 billion. Is it still around June?
Or I mean if you could just give us a bit of split between kind of what we should expect in the next few quarters, that would be quite helpful.
And then the second question is on the guidance in terms of 2021. In previous years, I think you did make comments around what you expected
on revenues in general. And thanks for the comment on net interest income and trading. That's very helpful. But should we still expect some positive
momentum in revenues in 2021? Or has that become more difficult?
Question: Delphine Lee - JPMorgan Chase & Co, Research Division - Analyst
: Great. And on the moratoria?
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