State aid assessment of impaired assets
valuation and resolution mechanisms.
A transfer of impaired assets
will accompany these measures to reinforce their long-term solidity.
A fall in impaired assets
and gains accruing from tighter cost control were reported as contributing factors for the impressive results.
As one of the conditions imposed in return for the European credit, Madrid agreed to create bad bank Sareb to absorb impaired assets
from troubled banks.
Preopening expense fell 25% to $6 million, while the provision for impaired assets
, closing costs and other items was unchanged at $1 million.
The company, which came into existence through the merger of savings banks Caixa Catalunya, Manresa and Tarragona, put aside EUR143m of provisions to offset impaired assets
in January to September 2011.
In Fitch's opinion, capitalisation seems somewhat tight given the reducing, but still sizeable volume of unreserved impaired assets
to the bank's reported equity.
While the repayment of 'impaired' assets has slowed, an estimated 68 per cent of all impaired assets
have been repaid to investors representing $118 billion, according to the report.
Conservative higher provisions on impaired assets
from the previous year also contributed to a lower net profit figure of $1.
As of the end of June 2009, the group has significantly written down most of its impaired assets
, including the ABCP and residential mortgage-backed securities (RMBS), which Mega Bank bought from the trustee of several collateralized bond obligation (CBO), given its role as a credit-impaired asset
It is "absolutely unthinkable" for the Saudi central bank to buy impaired assets
of debtors such as Saad Group and Ahmad Hamad Algosaibi & Brothers (AHAB), the Governor of the Saudi Arabian Monetary Agency (SAMA) said.
Pal, 09 Sept: Muhammad Al-Jasser, the governor of the Saudi Arabian Monetary Agency (SAMA) said It is "absolutely unthinkable " for the Saudi central bank to buy impaired assets
of debtors such as Saad Group and Ahmad Hamad Algosaibi & Brothers (AHAB).