News

The recapitalization of Atlante 1 or the creation of an Atlante 2 fund solely for NPLs remains a hot topic, and Premier Matteo Renzi continues to express hope in “market-based solutions”. The problem is that funding will require moral suasion from the Government as the big banks, Intesa and Unicredit won’t commit further resources to such initiatives. For now only CDP seems ready to contribute 0,5 to 1 Bn euros. Participation by SGA, the ex-bad bank of Banca di Napoli ...
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The gripping saga of Italy’s NPLs proceeds apace, firstly with Unicredit’s alleged offer to put 1,5Bn Euros into rescuing Banca Popolare di Vicenza. Although Ghizzoni, the CEO and an old hand at Unicredit, claims the offer wasn’t binding, the Board appears to have taken exception to hearing about this commitment only when the Atlante fund had already stepped into the breach, since take-up had been only of ten percent. Ghizzoni’s resignation reveals a lack of succession-planning as demonstrated by the ...
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Click here: The Deloitte Italian NPL Outlook ...
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The ECB has not only required capital increases from Banca Popolare di Vicenza and Veneto Banca, but is also imposing strict deadlines. Vicenza’s is now, and Veneto’s capital increase is set for June. The hurried meetings of banks called by Padoan’s team during February have given birth to atlante, a privately funded vehicle pooling resources to the tune of 4 to 6Bn Euros from all banks (foreign ones present in Italy included), pension funds, and insurers. That should keep the ...
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