Banco BPM SpA Q2 2020 Earnings Call Transcript

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

Question: Noemi Peruch - Mediobanca - Banca di credito finanziario S.p.A., Research Division - Analyst : I have 2. The first one is on capital. You mentioned 35 basis point is planned. And can you update us on the disposal and static securitization envisaged in the plan? And did you make some of the securitization in 2020 already? And the second one is on fees. If I'm not mistaken, you were planning to reprice current account fees in H2, worth EUR 20 million, EUR 25 million. Do you confirm this is still happening?

Question: Noemi Peruch - Mediobanca - Banca di credito finanziario S.p.A., Research Division - Analyst : And I was referring to the distribution over time between 2020, 2022. From your business plan, I see 100 bps of headwinds between 2020, 2021. So is it reasonable to think that in 2021, we will see a 65 bps of headwinds?

Question: Noemi Peruch - Mediobanca - Banca di credito finanziario S.p.A., Research Division - Analyst : Okay. And can you update us on the disposal and static securitization as well?

Question: Domenico Santoro - HSBC, Research Division - Analyst : Very 2 quick questions on my side. First of all, on the DTAs. As other European banks have done in Europe, you're going to potentially temper your targets when -- the profit targets, of course, when you present the new business plan. So I'm just wondering whether, at the point, it will be a profitability test on DTA, whether we should expect any write-down of non-guarantee DTA that, at the end, there might be also beneficial, of course, for your core Tier 1 given the way Basel III and the deduction, they work. And secondly, on the NII -- I'm sorry to ask the same question, can you give us a bit of visibility on the incremental contribution from TLTRO in the third quarter given that some of the banks are also giving back to the ECB part of the liquidity?