Credito Valtellinese

Credito Valtellinese's npls (as % of loans) fell 15.6% yoy to 7.52% in 4Q2019

By Helgi Analytics - February 19, 2020

Credito Valtellinese's non-performing loans reached 7.52% of total loans at the end of 2019-12-31, down from 8.91% compared to th...

Credito Valtellinese's capital adequacy ratio rose 9.14% yoy to 22.1% in 4Q2019

By Helgi Analytics - February 19, 2020

Credito Valtellinese's capital adequacy ratio reached 22.1% at the end of fourth quarter of 2019, up from 21.1% when compared to ...

Credito Valtellinese's net profit rose 192% yoy to EUR 8.81 mil in 4Q2019

By Helgi Analytics - February 19, 2020

Credito Valtellinese made a net profit of EUR 8.81 mil under revenues of EUR 130 mil in the fourth quarter of 2019, up 192% and ...

Profit Statement 2017 2018 2019
Net Interest Income EUR mil 395 397 349
Net Fee Income EUR mil 292 275 ...
Other Income EUR mil -178 -7.65 ...
Total Revenues EUR mil 508 664 613
Staff Cost EUR mil 270 327 266
Operating Profit EUR mil -22.5 123 156
Provisions EUR mil 359 139 157
Net Profit EUR mil -343 42.9 44.4
Balance Sheet 2017 2018 2019
Interbank Loans EUR mil 2,745 1,642 1,836
Customer Loans EUR mil 15,969 20,977 19,524
Debt Securities EUR mil 4,440 2,173 1,167
Total Assets EUR mil 24,957 26,473 24,340
Shareholders' Equity EUR mil 1,447 1,566 1,656
Interbank Borrowing EUR mil 6,272 7,798 2,897
Customer Deposits EUR mil 13,712 14,694 18,969
Issued Debt Securities EUR mil 2,790 1,549 ...
Ratios 2017 2018 2019
ROE % -21.4 2.85 2.76
ROA % -0.135 0.664 0.771
Costs (As % Of Assets) % 3.19 2.93 2.26
Costs (As % Of Income) % 104 81.5 74.6
Capital Adequacy Ratio % 12.5 20.3 22.1
Net Interest Margin % 1.57 1.54 1.37
Loans (As % Of Deposits) % 116 143 103
NPLs (As % Of Loans) % 22.5 8.91 7.52
Provisions (As % Of NPLs) % 46.9 60.8 57.7
Valuation 2017 2018 2019
Market Capitalisation (End Of Period) USD mil 162 590 561
Share Price (End Of Period) EUR 0.175 0.074 0.071
Price/Earnings (P/E) ... 9.42 11.3
Price/Book Value (P/BV) 0.093 0.257 0.302
Dividend Yield % 0 0 ...
Earnings Per Share (EPS) EUR -0.445 0.008 0.006
Book Value Per Share EUR 1.88 0.286 0.236
Dividend Per Share EUR 0 0 ...

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summary Unit 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                                                            
Net Interest Income EUR mil                                               464 481 467 426 395    
Total Revenues EUR mil                                               895 986 920 780 508    
Operating Profit EUR mil                                               336 365 334 202 -22.5    
Net Profit EUR mil                                               11.7 -193 190 -216 -343    
balance sheet                                                            
Interbank Loans EUR mil                                               1,051 1,658 1,499 949 2,745    
Customer Loans EUR mil                                               20,023 18,187 18,264 17,302 15,969    
Debt Securities EUR mil                                     ...         3,962 6,849 5,372 5,454 4,440    
Total Assets EUR mil                                               27,199 28,814 26,902 25,470 24,957    
Shareholders' Equity EUR mil                                               1,913 2,025 2,188 1,757 1,447    
Interbank Borrowing EUR mil                                               4,650 5,080 4,194 3,947 6,272    
Customer Deposits EUR mil                                               14,830 15,310 15,458 15,749 13,712    
Issued Debt Securities EUR mil                                               4,672 5,193 4,083 3,074 2,790   ...
ratios                                                            
ROE % ...                                             0.600 -9.78 9.04 -10.9 -21.4    
ROA % ...                                             1.60 1.91 1.83 1.14 -0.135    
Costs (As % Of Assets) % ...                                             2.66 3.25 3.22 3.25 3.19    
Costs (As % Of Income) %                                               62.5 63.0 63.7 74.1 104    
Capital Adequacy Ratio % ... ... ... ...     ... ...                     ... ...       12.2 14.0 15.2 13.0 12.5    
Net Interest Margin % ...                                             1.63 1.72 1.67 1.63 1.57    
Interest Income (As % Of Revenues) %                                               51.8 48.7 50.7 54.6 77.7    
Fee Income (As % Of Revenues) % ... ... ...                                         29.8 27.3 30.5 36.0 57.4   ...
Staff Cost (As % Of Total Cost) %                                               53.2 55.2 50.3 59.9 51.0    
Equity (As % Of Assets) %                                               9.56 11.1 12.0 10.2 9.06    
Loans (As % Of Deposits) %                                               135 119 118 110 116    
Loans (As % Assets) %                                               73.6 63.1 67.9 67.9 64.0    
NPLs (As % Of Loans) % ...                           ...       ...         19.2 25.2 27.2 27.5 22.5    
Provisions (As % Of NPLs) % ...       ...                   ...       ...         36.2 39.7 42.3 43.1 46.9    
valuation                                                            
Market Capitalisation (End Of Period) USD mil       ...                                       886 1,064 1,314 436 162    
Number Of Shares (Average) mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...               462 555 771 771 771    
Share Price (End Of Period) EUR                                               1.36 1.14 1.57 0.536 0.175    
Earnings Per Share (EPS) EUR ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...               0.025 -0.347 0.247 -0.280 -0.445    
Book Value Per Share EUR ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...               4.14 3.65 2.84 2.28 1.88    
Dividend Per Share EUR                                               0 0 0 0 0   ...
Price/Earnings (P/E) ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...             ... 53.7 ... 6.35 ... ...    
Price/Book Value (P/BV) ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...               0.328 0.313 0.553 0.235 0.093    
Dividend Yield %                                               0 0 0 0 0   ...
Earnings Per Share Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...             -119 -1,471 -171 -213 59.3    
Book Value Per Share Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...             -25.7 -11.9 -22.2 -19.7 -17.6    
income statement Unit 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                                                            
Interest Income EUR mil                                               941 821 701 597 528   ...
Interest Cost EUR mil                                               477 341 234 171 134   ...
Net Interest Income EUR mil                                               464 481 467 426 395    
Net Fee Income EUR mil ... ... ...                                         267 269 281 280 292   ...
Other Income EUR mil ... ... ...                                         165 237 173 73.5 -178   ...
Total Revenues EUR mil                                               895 986 920 780 508    
Staff Cost EUR mil                                               297 343 295 346 270    
Depreciation EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ...                   21.3 21.6 21.8 21.4 18.5   ...
Other Cost EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ...                   240 257 269 210 242   ...
Operating Cost EUR mil                                               559 621 586 578 531    
Operating Profit EUR mil                                               336 365 334 202 -22.5    
Provisions EUR mil                                               266 649 440 467 359    
Extra and Other Cost EUR mil                                               29.8 18.1 -233 -4.18 -41.0    
Pre-Tax Profit EUR mil                                               39.9 -302 127 -261 -340    
Tax EUR mil                                               25.6 -112 -67.9 -49.5 -0.623    
Minorities EUR mil                                               2.60 2.77 3.98 4.37 3.65    
Net Profit EUR mil                                               11.7 -193 190 -216 -343    
Dividends EUR mil                                               0 0 0 0 0   ...
growth rates                                                            
Net Interest Income Growth % ...                                             -3.03 3.58 -2.91 -8.70 -7.29    
Net Fee Income Growth % ... ... ... ...                                       0.457 0.723 4.40 -0.035 4.03   ...
Total Revenue Growth % ...                                             5.41 10.1 -6.68 -15.2 -34.8    
Operating Cost Growth % ...                                             -5.16 11.0 -5.55 -1.46 -8.13    
Operating Profit Growth % ...                                             29.4 8.62 -8.59 -39.4 -111    
Pre-Tax Profit Growth % ...                                             -133 -855 -142 -306 30.6    
Net Profit Growth % ...                                             -125 -1,745 -199 -213 59.3    
balance sheet Unit 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
balance sheet                                                            
Cash EUR mil                                               205 194 175 171 198    
Interbank Loans EUR mil                                               1,051 1,658 1,499 949 2,745    
Customer Loans EUR mil                                               20,023 18,187 18,264 17,302 15,969    
Retail Loans EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         16,476 15,451 15,428 14,804 13,576   ...
Mortgage Loans EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         10,169 9,707 10,435 10,641 10,514   ...
Consumer Loans EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         6,307 5,744 4,993 4,162 3,061   ...
Debt Securities EUR mil                                     ...         3,962 6,849 5,372 5,454 4,440    
Fixed Assets EUR mil                                               458 454 454 438 395   ...
Intangible Assets EUR mil ... ... ... ... ...                                     356 210 119 45.6 44.6   ...
Goodwill EUR mil ... ... ... ... ... ... ... ... ... ...                           305 172 102 30.4 30.4   ...
Total Assets EUR mil                                               27,199 28,814 26,902 25,470 24,957    
Shareholders' Equity EUR mil                                               1,913 2,025 2,188 1,757 1,447    
Of Which Minority Interest EUR mil                                               5.19 4.45 4.38 4.04 5.35    
Liabilities EUR mil                                               25,285 26,789 24,714 23,712 23,509    
Interbank Borrowing EUR mil                                               4,650 5,080 4,194 3,947 6,272    
Customer Deposits EUR mil                                               14,830 15,310 15,458 15,749 13,712    
Sight Deposits EUR mil                             ... ...               12,336 13,096 13,470 13,521 12,273   ...
Term Deposits EUR mil                             ... ...               2,374 2,009 1,536 1,628 809   ...
Issued Debt Securities EUR mil                                               4,672 5,193 4,083 3,074 2,790   ...
Subordinated Debt EUR mil ... ... ... ... ... ... ... ... ... ... ... ...     ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Other Liabilities EUR mil                                               1,134 1,206 979 942 735   ...
asset quality                                                            
Non-Performing Loans EUR mil ...                           ...       ...         4,132 5,083 5,620 5,387 4,021    
Gross Loans EUR mil                             ...       ...         21,517 20,206 20,641 19,623 17,854    
Total Provisions EUR mil         ...                   ...       ...         1,495 2,019 2,377 2,321 1,886    
growth rates                                                            
Customer Loan Growth % ...                                             -9.02 -9.17 0.423 -5.26 -7.71    
Retail Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       -7.61 -6.22 -0.149 -4.05 -8.30   ...
Mortgage Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       -4.90 -4.54 7.50 1.98 -1.19   ...
Consumer Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       -11.7 -8.93 -13.1 -16.6 -26.5   ...
Total Asset Growth % ...                                             -9.02 5.94 -6.64 -5.32 -2.01    
Shareholders' Equity Growth % ...                                             -3.71 5.82 8.06 -19.7 -17.6    
Customer Deposit Growth % ...                                             -2.96 3.24 0.965 1.88 -12.9    
ratios Unit 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
ratios                                                            
ROE % ...                                             0.600 -9.78 9.04 -10.9 -21.4    
ROA % ...                                             1.60 1.91 1.83 1.14 -0.135    
Costs (As % Of Assets) % ...                                             2.66 3.25 3.22 3.25 3.19    
Costs (As % Of Income) %                                               62.5 63.0 63.7 74.1 104    
Capital Adequacy Ratio % ... ... ... ...     ... ...                     ... ...       12.2 14.0 15.2 13.0 12.5    
Tier 1 Ratio % ... ... ... ...   ... ... ...                               8.63 11.0 13.1 11.8 10.6    
Net Interest Margin % ...                                             1.63 1.72 1.67 1.63 1.57    
Interest Spread % ...                                             1.50 1.62 1.61 1.57 1.53   ...
Asset Yield % ...                                             3.30 2.93 2.51 2.28 2.10   ...
Cost Of Liabilities % ...                                             1.80 1.31 0.909 0.706 0.566   ...
Payout Ratio %                                               0 0 0 0 0   ...
Interest Income (As % Of Revenues) %                                               51.8 48.7 50.7 54.6 77.7    
Fee Income (As % Of Revenues) % ... ... ...                                         29.8 27.3 30.5 36.0 57.4   ...
Other Income (As % Of Revenues) % ... ... ...                                         18.4 24.0 18.8 9.43 -35.1   ...
Cost Per Employee USD per month                                               7,856 13,890 6,836 7,627 6,675    
Cost Per Employee (Local Currency) EUR per month                                               5,918 10,776 5,963 7,114 5,945    
Staff Cost (As % Of Total Cost) %                                               53.2 55.2 50.3 59.9 51.0    
Equity (As % Of Assets) %                                               9.56 11.1 12.0 10.2 9.06    
Loans (As % Of Deposits) %                                               135 119 118 110 116    
Loans (As % Assets) %                                               73.6 63.1 67.9 67.9 64.0    
NPLs (As % Of Loans) % ...                           ...       ...         19.2 25.2 27.2 27.5 22.5    
Provisions (As % Of NPLs) % ...       ...                   ...       ...         36.2 39.7 42.3 43.1 46.9    
Provisions (As % Of Loans) %         ...                   ...       ...         7.46 11.1 13.0 13.4 11.8    
Cost of Provisions (As % Of Loans) % ...                                             1.27 3.39 2.41 2.63 2.16    
other data Unit 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
other data                                                            
Branches ... ... ... ... ... ... ... ...                               543 363 526 503 412    
Employees                                               4,188 2,649 4,123 4,055 3,791    
Sight (As % Of Customer Deposits) %                             ... ...               83.2 85.5 87.1 85.9 89.5   ...
Risk-Weighted Assets EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...             17,499 16,635 15,479 14,539 12,944    
Return on Loans % ...                                             0.056 -1.01 1.04 -1.21 -2.06    
Operating Profit (As % of Loans) % ...                                             1.60 1.91 1.83 1.14 -0.135    
Costs (As % Of Loans) % ...                                             2.66 3.25 3.22 3.25 3.19    
Equity (As % Of Loans) %                                               9.56 11.1 12.0 10.2 9.06    

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Credito Valtellinese's employees fell 0.927% yoy to 3,634 in 4Q2019

By Helgi Analytics - February 19, 2020

Credito Valtellinese employed 3,634 persons in 2019-12-31, down 0% when compared to the previous year. Historically, the bank's workforce hit an all time high of 6,854 persons in 2012-12-31 and an all time low of 2,649 in 2014-12-31. Average cost reached USD 6,456...

Credito Valtellinese's price/earnings (P/E) fell 62.7% yoy to 13.7 in 4Q2019

By Helgi Analytics - February 19, 2020

Credito Valtellinese stock traded at EUR 0.071 per share at the end fourth quarter of 2019 implying a market capitalization of USD 561 mil. Since the end of 4Q2014, the stock has depreciated by -93.8 % implying an annual average growth of -42.6 %. In absolute terms, t...

Credito Valtellinese's market capitalisation (end of period) fell 5.02% yoy to USD 561 mil in 4Q2019

By Helgi Analytics - February 19, 2020

Credito Valtellinese stock traded at EUR 0.071 per share at the end of fourth quarter of 2019 implying a market capitalization of USD 561 mil. Over the last five years, the stock has depreciated by 93.8 implying an annual average growth of -42.6% In absol...

Credito Valtellinese's customer loan growth fell 122% yoy to -6.93% in 4Q2019

By Helgi Analytics - February 19, 2020

Credito Valtellinese's customer loan growth reached -6.93% in 2019-12-31, down from 31.4% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 34.1% in 2008-12-31 and an all time low of -10.6% in 2017-06-30. In ...

Credito Valtellinese's equity (as % of assets) rose 15.0% yoy to 6.80% in 4Q2019

By Helgi Analytics - February 19, 2020

Credito Valtellinese's Equity reached 6.80% of total assets in the 4Q2019, up from 5.92% for the previous year. As a share of net customer loans, the ratio amounted to 8.48% at the end of the fourth quarter of 2019. ...

Credito Valtellinese's capital adequacy ratio rose 9.14% yoy to 22.1% in 2019

By Helgi Analytics - February 19, 2020

Credito Valtellinese's capital adequacy ratio reached 22.1% at the end of 2019, up from 20.3% compared to the previous year. Historically, the bank’s capital ratio hit an all time high of 22.1% in 2019 and an all time low of 8.03% in 2004. The Tier 1 ratio am...

Credito Valtellinese's npls (as % of loans) fell 15.6% yoy to 7.52% in 2019

By Helgi Analytics - February 19, 2020

Credito Valtellinese's non-performing loans reached 7.52% of total loans at the end of 2019, down from 8.91% compared to the previous year. Historically, the NPL ratio hit an all time high of 27.5% in 2016 and an all time low of 1.94% in 1995. Provision cov...

Credito Valtellinese's net profit rose 3.39% yoy to EUR 44.4 mil in 2019

By Helgi Analytics - February 19, 2020

Credito Valtellinese made a net profit of EUR 44.4 mil under revenues of EUR 613 mil in 2019, up 3.39% and -7.66% respectively compared to the previous year. Historically, the bank’s net profit reached an all time high of EUR 190 mil in 2015 and an all time low of EU...

Credito Valtellinese's employees fell 0.927% yoy to 3,634 in 2019

By Helgi Analytics - February 19, 2020

Credito Valtellinese employed 3,634 persons in 2019, down 0.927% when compared to the previous year. Historically, the bank's workforce hit an all time high of 6,854 persons in 2012 and an all time low of 1,930 in 1998. Average cost reached USD 7,134 per month pe...

Credito Valtellinese's price/earnings (P/E) rose 19.9% yoy to 11.3 in 2019

By Helgi Analytics - February 19, 2020

Credito Valtellinese stock traded at EUR 0.071 per share at the end 2019 implying a market capitalization of USD 561 mil. Since the end of 2014, the stock has appreciated by % implying an annual average growth of 0 %. In absolute terms, the value of the company ...

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