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European Debt Portfolio Conference. Non-core is here to stay 19 March 2012. Non-core loan portfolios in Europe. €2,400,000,000,000 . Source: Publicly available information, PwC information and analysis. 2. Non-core is here to stay. Non-core is here to stay. Deleveraging. New.
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European Debt Portfolio Conference Non-core is here to stay 19 March 2012
Non-core loan portfolios in Europe €2,400,000,000,000 Source: Publicly available information, PwC information and analysis 2 • Non-core is here to stay
Non-core is here to stay... Deleveraging New Portfolio disposals Single asset disposals Run-off Additional announcement Source: Publicly available information, PwC information and analysis 3 • Non-core is here to stay
The European transaction climate in 2013 • Germany • Specialised • CRE • United Kingdom • Corporate • CRE • Specialised lending • Nordics • Retail lending (secured/unsecured) • Ireland • CRE • Corporate • CEE • CRE • Retail • Spain • Retail lending (secured/unsecured) • CRE • Italy • Corporate • Retail lending • CRE • Non-core is here to stay
Investment gap… • Non-core • Decision • Sales proceeds • Transaction funding • €500bn • Transact • €90bn • Cash available (equity + leverage) • €200bn • €1,400bn • Performing • €110bn • Investment gap • €1,900bn • Hold and run down • €1,000bn • Non-performing Source: Publicly available information, PwC information and analysis • Non-core is here to stay