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Looking at Italian banks Q1 2020 reporting, it almost feels like it's business as usual in Italy. Virus, what virus?

I know Credem is a comparatively stronger bank, but cost of risk at 24bps ? Seriously? The lowest since 2006 ??
Maybe you'll say, "but surely it's different for a (much) weaker bank?"

Hum.

Ohoooo, a mighty +6bps increase since 2019 ! (Creval).

I see no reason why the calcio shouldn't start again !
@gianlucac1
But tbh my favourite is Banco BPM because they invented the concept of "physiological cost of risk."

Wtf is that?
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More from @jeuasommenulle see all

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JohannesBorgen
@jeuasommenulle
As suggested by @C_Barraud here are some charts of #covid 19 reproduction number R changes for countries that have started to ease lockdowns - the comparison with Asia is not very encouraging
Denmark : going up / flattish near 1
Austria: significantly going up:
Read 8 tweets
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JohannesBorgen
@jeuasommenulle
So I keep thinking about lockdown, easing lockdowns, the Covid R (reproduction number) and Google mobility index.
And I found something extremely interesting.
As i explained yesterday I did a cluster analysis to identify the countries' behaviours and impacts of lockdown policies.
The groups are the following:
One understands what each group of country has been doing with this chart explaining each cluster's centre (=a sort of average behaviour in the group)
Read 9 tweets
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JohannesBorgen
@jeuasommenulle
Why did I make that promise? I must be mad! Anyway, here it is, The Deutsche Covid stress – and seriously, you’d better switch immediately to your favourite Trump or Covid meme threads, because this could be long and geeky! 1/N
How do we approach this? The goal is to see what their Common Equity Tier 1 (CET1) ratio could look like by FY2020. Maybe you think CET1 is a bad measure, but it’s what supervisors use & they call the shots – so it’s what matters 😊
CET1 ratio is CET1/RWA. Let’s start with CET1. Now that Basel 2 transition is almost over, FY2020 CET1 will mostly be driven by P&L. DB’s P&L is a gigantic mess, with many moving parts, especially as they‘re in a restructuring process.
Read 93 tweets

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