Report: Intesa eyes 'good bank' from Veneto bunch

Business 6/19/2017, 9:13 AM
Report: Intesa eyes 'good bank' from Veneto bunch

Intesa Sanpaolo SpA is the only one at the table, discussing the alternative for Banca Popolare di Vicenza and Veneto Banca, an unnamed source told La Stampa. The report published on Monday noted the initial plan was for the state to pour in €1.2 billion as a precautionary measure before a rights offering and merging the two ailing lenders. In a new scheme, the portfolios are seen reshuffled into a "good bank" and a package of nonperforming loans for sale, the article said.

Still, according to information from persons familiar with the matter, the banking giant is asking for guarantees, including the backing of the resolution fund, to shield its own capital. Another option would be to take over only Veneto, the news outlet revealed. The two target entities have a shortfall of €6.4 billion.

TeleTrader Newsroom / IT

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