La banca italiana está hundida.
Los NPLs (Non Performing Loans, es decir, la mora bancaria) No ha parado de crecer…
Mira la Banca Monte dei Paschi di Siena: Tiene > 2bn equity y 45bn NPLs. Insoportable!!!
Lo descuenta el precio, que se hunde:
Pero si lo miras mejor, en el último año ha caído más de un 60%, es terrorífico:
En 5 años, lo ha perdido todo:
En España las cosas son algo parecidas con respecto a las acciones de los bancos. Sufren por sus inversiones en Brasil, Turquía y otros emergentes, y por la dificultad de hacer beneficios en un entorno de tipos a cero...
El mayor banco, el Santander: pierde un 56% en los últimos 5 años. Terrible!!!
A más plazo:
Y el peor, el Popular, que ha perdido un 80% en los últimos 5 años:
A más plazo:
Da miedo… No los tengas.
La banca italiana no consiguió hacer un “banco malo” y tiene severos problemas:
Italy's government has been struggling to set up a bad bank
Country's bad loans reached 201 billion euros in November
Italian banks dropped in Milan, leading declines in the European Stoxx 600 Banks Index, reflecting investor concerns about lenders’ levels of bad debt as the European Central Bank seeks to toughen scrutiny of the region’s non-performing loans.
Banca Monte dei Paschi di Siena SpA, bailed out twice since 2009, slumped 15 percent to 76.6 cents in Milan, a fresh record low. Unione di Banche Italiane SpA fell 7.3 percent, while Banco Popolare SC declined 6.7 percent. Europe’s 46-member Stoxx 600 Banks Index decreased 1.9 percent to the lowest since November 2012, bringing losses this year to 15 percent.
“Italian banks’ asset quality is back in the spotlight,” said Wolfram Mrowetz, chairman of Alisei SIM, a Milan brokerage. “A delay in Italy’s bad-bank plan, amid quarrels between Prime Minister Matteo Renzi and European Commissioner Jean-Claude Juncker, and ECB challenges on the high level of non-performing loans are hurting stock.”
Italian banks’ bad loans reached a record high of 201 billion euros ($219 billion) in November, with record-low interest rates and a struggling economy squeezing profit margins. The ECB’s Single Supervisory Mechanism is seeking additional information about lenders’ non-performing loans in order to tackle bad debt across the region, a spokesman said, confirming a Sunday report by Reuters.
‘More Skeptical’
A worsening credit quality is a reason for concern in a number of countries, the ECB wrote in a Jan. 6 report.
“A task force on non-performing loans is reviewing the situation of institutions with high levels of NPLs and will propose follow-up actions,” the central bank said.
In Italy, the government has been struggling to win approval for a bad bank to help speed up disposals of soured loans. Tensions between the country and the European Commission mounted earlier this month when Juncker publicly questioned Renzi’s criticism over an alleged lack of flexibility.
“Turbulence on global financial markets as well as concerns about asset quality are making investors more and more skeptical about the potential for continued outperformance of Italian banks this year,” said Vincenzo Longo, a strategist at IG Markets in Milan. “The selloff is affecting the weakest banks such as Monte dei Paschi and some cooperative banks.”
Italian market regulator Consob imposed a ban on short selling of Monte dei Paschi’s stock for the remainder of Monday’s session through Jan. 19, in an attempt to stabilize shares of the world’s oldest bank, which have dropped about 34 percent this year.
“I confirm Monte Paschi’s financial, economic stability,” Chief Executive Officer Fabrizio Viola said in e-mailed statement after markets closed. “The stock decline is not justified by fundamentals or management events,” he said, reiterating that the bank remains focused on its bad-loan disposals.
Subordinated and senior bonds in troubled banks including Monte dei Paschi, Banca Popolare di Vicenza and Veneto Banca have slumped to record lows this month. Monte Paschi’s 379 million euros of 5.6 percent junior notes fell more than 10 cents to 71.7 cents on Monday, surpassing the previous record low of November 2011.
Abrazos,
PD1: En España los bancos andan muy revueltos, cotizando muy por debajo del valor en libros:
Price to book value:
Esto es el resumen de sus datos a cierre de año pasado:
Y con tipos a cero, problemas para hacer la cuenta de resultados…
Con actores nuevos que van a pegar fuerte… Es desastroso. Se les ha ayudado por muchas vías, directamente, con compra de bonos, creación de un banco malo donde metieron sus activos imposibles a un precio de fábula, con exenciones fiscales… Pero sigue presentando un aspecto terrible.
Lo único razonable, se ha creado una legislación para que si entran en barrena no sean los contribuyentes de Finlandia/Alemania los que paguen el pato. Ahora está muy claro quién asumirá las pérdidas: sus accionistas, bonistas y depositarios. El BAIL IN está preparado… Quedáis avisados.
PD2: Todos podemos mejorar, todos podemos hacer un pequeño esfuerzo para ser mejores. Cuesta, pero compensa el resultado. Sobre todo para los demás que lo notan enseguida…
