Intesa Sanpaolo plans to set up internal ‘bad bank

Italy’s Intesa Sanpaolo is planning to set up an internal bad bank to house €55bn of gross non-performing loans in view of the ECB’s stress tests, the FT has revealed.

According to the Financial Times‘ report, managers and shareholders of the bank will discuss the plan to store its “non-core” assets in the next weeks.

The bank’s strategic plans is due to be announced alongside its annual results on March 28, a person familiar with the matter reportedly told the FT.

The European Central Bank’s  stress tests across the continent’s banking sector are scheduled in May.

Intesa Sanpaolo is also set to announce plans to shed minority stakes worth €2bn, including holdings in Telecom Italia and Alitalia, the FT said.

The bank’s shares rose by 0.7% following the announcement, Il Sole 24 Ore said.

Intesa Sanpaolo’s spokesperson declined to comment on the matter.



InvestmentEurope is delighted to announce the Fund Selector Bond Focus Italy, to be held 4 March, 2014 at the Four Seasons Hotel in Milan.

Click here for further details:



Close Window
View the Magazine

I also agree to receive editorial emails from InvestmentEurope
I also agree to receive event communications for InvestmentEurope
I also agree to receive other communications emails from InvestmentEurope
I agree to the terms of service *

You need to fill all required fields!