The so-called “underlying” of the NPLs was in fact made up of properties with a prevalent industrial and tertiary use, originating from the well-known credit and corporate crises that occurred over 10 years ago.

During the audits, it emerged that these were not newly built properties, as the presence of leasing or financing might have suggested, but rather older buildings with a previous use in industrial production, different from their current function.

Based on the level of detail requested by the client, Bilma carried out the conformity checks on a desk top basis or through an inspection; where necessary, a range of adjustment costs complete with a protocol of the activities to be carried out has been estimated. Finally, where the information framework was found to be very lacking, it was preferred to suggest a precise path for in-depth investigation.