Increase less than expected (Il Sole 24 Ore Radiocor) - Milan , 14 Jun - The Italian cooperative banking group Iccrea has seen an increase in nonperforming loans "from month to month," said general manager Mauro Pastore.

Nonetheless, he added that bad loans are increasing less than Iccrea had expected.

"At this moment the trend of NPLs is lower than our plan forecasts, which were prudent," Pastore said on the sidelines of the annual meeting of the Lombardy region cooperative banking federation. "We had imagined a probability of default of 2% and we are well below that.".

AAA-Hob

(RADIOCOR) 14-06-24 13:12:24 (0297) 5 NNNN