Banco Bpm SpA Q2 2019 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Domenico Santoro - HSBC, Research Division - Analyst : A couple of question on my side. First of all, can we focus a bit on the UTP portfolio first. Can you give, first of all, some data or information about the vintage? Because that's not anymore in your financial reports starting from 2018. That will be very useful. The second, if you can give us also the impact on the NPE portfolio from the new definition of defaulting loans from the EBA? Then, third on your participation portfolio, my understanding from the question from the colleague, you are mentioning that only EUR 240 million might be sold or they might be salable, disposable in the short term? But you have more than EUR 1 billion deduction to capital at this moment. So I'm just wondering whether in a sort of a worst case scenario, I mean the reduction can be more significant also because ex-Agos, the contribution to P&L might be material. without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. AUGUST 06, 2019 / 4:30PM, BAMI.MI - Q2 2019 Banco Bpm SpA Earnings Call And then, on UTP portfolio, again, I'd rather prefer you to be much cleaner sooner rather than start to think about the buyback of shares, to be very honest. And since we have seen a monster operation on the market, I thought that you might probably go with the same, especially now that there is -- your capital position is much more robust. So my question is, given that there is a current provisioning on the stock coming, probably might be quite helpful for you in 2021, 2022, I'm just wondering whether that's not possible because already you did a deal in the nonperforming loans area and potentially there might be some legal constraint? Any thoughts on that side will be helpful.