fillthegap - Banca IFIS

FILLTHEGAP
VENICE
16_09_2016
EBOOK
FILLTHEGAP
VENICE
16_09_2016
EBOOK
#nplmeeting
#nplmeeting
NPL
MEETING
2016
NPL MEETING 2016
55
11
6
6
st
st
th
th
PARTICIPANTS
PARTICIPANTS
EVENT IN ITALY
EVENT
ON NPL IN ITALY
ON NPL
NPL
NPL
MEETING 2016
CATEGORIES
CATEGORIES
OF PLAYERS REPRESENTED
OF PLAYERS REPRESENTED
55
MEETING 2016
FILL
THE
GAP
FILL THE GAP
ROUNDTABLES
ROUNDTABLES
25
25
SPEAKERS
SPEAKERS
11
04
EDITION
EDITION
600
600
BREAKDOWN
BREAKDOWN
DEDICATED
DEDICATED
APP
APP
55
%
55 %
45
%
45 %
ITALIAN
ITALIAN
PARTICIPANTS
PARTICIPANTS
FOREIGN
FOREIGN
PARTICIPANTS
PARTICIPANTS
42,5
%
42,5 %
19,5
%
19,5 %
9,5
%
9,5 %
28,5
%
28,5 %
INVESTORS
INVESTORS
ORIGINATORS
ORIGINATORS
SERVICERS
SERVICERS
OTHER
OTHER
LAW FIRM, CONSULTANCY, ETC.
LAW FIRM, CONSULTANCY, ETC.
05
AGENDA
OPENING REMARKS
(9:30 – 9:45 am)
Giovanni Bossi (Banca IFIS)
INTRODUCTION
(9:45 – 10:15 am)
Definition of the different gaps in the Italian NPL market.
Enrico Risso (McKinsey)
ASSET OWNERS & ASSET BUYERS
(10:15 – 11:45 am)
The main Italian banking players discuss about their experience in
the NPL sector.
José Brena (Unicredit), Carlo Viola (Intesa SanPaolo), Justin Sulger
(Anacap), Malcolm Jackson (Blackstone), Zachary Lewy (Arrow),
Tiku Patel (Pra), David J. Teitelbaum (Cerberus), Alessandro
Scorsone (Kruk), Antonella Pagano (Lindorff), Charly De Munter
(Hoist Finance)
06
RATING & NEWCOMERS
(11:50 – 12:20 pm)
Rating agencies and their role to bring potential new players
(insurance companies and pension funds) in the NPL market.
Carlo Ferraresi (Cattolica), Michelangelo Margaria (Moody’s),
Fabrizio Vitiello (Assicurazioni Generali), Alessio Pignataro (Dbrs)
LUNCH
(12:20 – 2:00 pm)
NPL EXCHANGE PLATFORMS
(2:10 – 2:40 pm)
Significant experience of International players for the banking
transparency, analyzing how to get a more certain execution.
Gifford S. West (DebtX), Nick Ollard (Tdx), Razi Amin (Aspen)
SYSTEMIC SOLUTIONS
(2:40 – 3:40 pm)
Describing some of the solutions that Italy has adopted to manage
NPLs with the main protagonists.
Paolo Petrignani (Quaestio Capital), Roberto Nicastro (Four Banks
after resolution), Claudio Corsini (ex Rev), Davide Serra (Algebris)
CLOSING REMARKS
(3:40 – 3:50 pm)
Giovanni Bossi (Banca IFIS)
07
GIOVANNI
BOSSI
CEO BANCA IFIS
“Response from investors is not to be taken for
granted. Even if deals were to increase five-fold
between now and 2017, the volumes would still
not be sufficient enough to solve the problem
of Italian banks’ non-performing loans. What is
needed is a quantum leap in the management
of impaired assets.
The financial capacity already exists; investors’
interest is connected to institutes’ willingness
to render their assets transparent and to not be
intransigent about prices”.
08
09
With discipline, belief,
and the right knowledge,
we become the best
we can be.
010
Athletes from the Ren Bu Kan Treviso Karate School
in the karate demonstration at the NPL Meeting 2016
011
NPL
OVERVIEW
Introduction (McKinsey)
THE FINANCIAL CRISIS CONTRIBUTED TO A SIGNIFICANT INCREASE IN NPL
1
NPL
STOCK EVOLUTION IN THE ITALIAN MARKET - GROSS BOOK VALUE
bad loans
past due and unlikely to pay
EUR BILLIONS
NPL RATIO %
3272
237
337
283
133
199
158
287%
195
87
43
138
44
14
2008
2009
2010
2011
2012
2013
2014
2015
4,97
0,8
8,9
11,2
13,4
15,9
17,8
18,0
1. Including banks and CDP 2. “Cassa Depositi e Prestiti included hereafter SOURCE: Bank of Italy
15
COMPLEX LEGAL AND JUDICIAL PROCEDURES
~48-90+
legal
procedures
36-66+
file preparation
(banks)
16
3-4x
MONTHS
AVERAGE RECOVERY TIME
12-24
~12-24
ITALY
EUROPE
SOURCE: IMF; Italian Ministry of Justice
17
IN THE EARLY YEARS OF THE FINANCIAL CRISIS, THE ITALIAN BANKING SYSTEM RECEIVED LIMITED
PUBLIC AID COMPARED WITH OTHER EUROPEAN COUNTRIES
EUR billions
EUROPEAN PUBLIC AID TO THE BANKING SYSTEM1
238
germany
42
31. 1
greece
40
22.1
netherlands
36
4.8
austria
28
3.5
23
11. 3
COUNTRY
portugal
belgium
italy
17
4
PUBLIC AID
5.0
ireland
1. Before the “bail-in-rule” 2. Net of recovered amounts SOURCE: Il Sole 24 ore; IMF
8.0
52
spain
18
% of GDP
3.7
-0
19
Alessandro Scorsone
Antonella Pagano
Director of Strategic
Transactions
and Client Relations
Kruk S.A.
Justin Sulger
Partner and Head of Credit
Anacap Financial Partners
Carlo Viola
Head of Strategies
and Solutions Department
Intesa SanPaolo Capital Light
Head of Italian Operations
Lindorff
Zachary Lewy
Jose Brena
Founder and Group
Chief Investment Officer
Arrow Global
Charly de Munter
Regional Director
Mid Europe
Hoist Finance
ASSET & ASSET
OWNERS BUYERS
Malcolm Jackson
Managing Director
Blackstone Tactical
Opportunities Group
20
Head of Distressed
Asset Management
UniCredit
David J. Teitelbaum
Head of European Advisory Offices
and Senior Managing Director
Cerberus European
Capital Advisors, LLP
Tiku Patel
1
st roundtable
Chief Executive Officer
PRA Group Europe
21
Do you want
to discover
what they said?
>>>
watch the video >
22
23
FOCUS
DISCIPLINE
RESPECT
LOYALTY
024
Athletes from the Ren Bu Kan Treviso Karate School
in the karate demonstration at the NPL Meeting 2016
025
Michelangelo Margaria
Senior Vice President/Manager
Structured Finance Group
Fabrizio Vitiello
Carlo Ferrares
Group Head of Alternative Fixed Income
Generali Group
CFO
Cattolica Assicurazioni
NEW
RATING & COMERS
Alessio Pignataro
Vice President
DBRS Ratings Limited
2
nd roundtable
26
27
Do you want
to discover
what they said?
>>>
watch the video >
28
29
EXCHANGE
PLATFORMS
Nick Ollard
Director Global Asset Sale Services
TDX Group
Razi Amin
Managing Partner
Aspen Capital Solutions LLC
3
rd roundtable
Gifford S.West
Managing Director, International
Operations & Business Development
DebtX
30
31
Do you want
to discover
what they said?
>>>
watch the video >
32
33
SYSTEMIC
SOLUTIONS
34
4
th roundtable
35
Roerto Nicastro
Cllaudio Corsini
Ex President & CEO
REV
Davide Serra
Founder & CEO
Algebris Investments
36
President of the four “good banks”
Nuova Carichieti,
Nuova Cariferrara,
Nuova Banca Marche
and Nuova Banca Etruria
Paolo Petrignani
CEO
Quaestio Capital
37
Do you want
to discover
what they said?
>>>
watch the video >
38
39
TWEET
GALLERY
@ BancaIFIS
"We don’t grow when things are
easy; we grow when we face
challenges".
The story of the NPL Meeting.
#NPLmeeting 2016
@ LCasiraghi
Italy’s Bad Loans Get New Shine
in Light of Low-Yield Choices
http://bloom.bg/2cNXN7O
via @LCasiraghi @ssirletti
#NPLMeeting
@ BancaIFIS
Explaining : External Conditions;
Operational Environment; Bank
specificElements #nplmeeting
EnricoRisso @McKinsey_it
@ francescodbossi
Lack of information
depreciates the portfolio.
Data is key #NPLmeeting
@ Linkerbiz
Nicastro: “mi aspetto che
mercato NPL decolli ma
potrebbe non bastare a tutto...”
#nplmeeting
@ classcnbc
Bisogna chiudere gap #npl
banche. Parla @GiovanniBossi
CEO @BancaIFIS #nplmeeting
@ GiovanniBossi
@ damiano_sestyle
RT: @GiovanniBossi: "il #karate
ci spinge ad arrivare al nostro
limite. Con disciplina". Ottimo
inizio di #nplmeeting
@ MassimoFamularo
490m deal #goodnews for
@BancaIFIS while #NPLmeeting
is about to start @sole24ore
http://ow.ly/ydff304gtAu
#NPLmeeting: investitori
chiedono più dati per poter
metter soldi e risolvere
problema crediti deteriorati.
#banche
@ AStaccione
Sembra scontro tra avversari
ma è incontro tra persone
per migliorare se stessi a
#NPLMeeting nell'interesse
comune
@ Linkerbiz
Cattolica Assicurazioni: per
investire in NPL abbiamo
bisogno di team specializzati.
Asset class interessante ma
difficile #nplmeeting
@ GiovanniBossi
#NPLmeeting Probabilmente
potenza di fuoco di investitori
oggi a Venezia può risolvere
crediti #npl #banche. Tutti.
@ AntDear2010
@TDXComms @nickollard doing
a great job at the #nplmeeting
@ DIGIOMAR
#nplmeeting #karate
#fillthegap la ricerca del limite
permette di migliorare
@ CreditVillageCV
All' #Nplmeeting si parla di
#fondoatlante e delle soluzioni
adottate dalle #banche italiane
@ BancaIFIS
#nplmeeting Thanks for
following us! Stay Tuned; Stay
Excited! And have a great
weekend from all of us
@BancaIFIS
@ classcnbc
@ AlbertoSondri
#nplmeeting Petrignani AD
Quaestio, per Atlante 2 obiettivi:
1) fill the gap 2) rendimento 6%
40
@ azholdingspa
Fill the gap...#spazi bianchi
da riempire, quali #soluzioni?
#NPLMeeting #Venezia
#finance @BancaIFIS
Al #nplmeeting anche
@davidealgebris: potevamo
risolvere il problema delle
sofferenze con i fondi dell'ESM,
quando era consentito
@BancaIFIS
41
INTERVIEW
TO GIOVANNI
BOSSI
LINKS &
DOWNLOAD
NPL MEETING 2016
VIDEO PLAYLIST
A VERY
SUCCESSFUL
EDITION
NPL MEETING 2016
IN 1 MINUTE
HOW TO REVAMP
THE ITALIAN
MARKET
WHAT HAPPENED
AT THE
NPL MEETING 2016
PHOTO GALLERY
SPEAKERS
PROFILES
42
NPL MEETING 2016
OPENING REMARKS
43
FILLTHEGAP
SEE YOU IN 2017
#nplmeeting
[email protected]
www.nplmeeting.it