2) #Iran is on a charming offence, lots of EU companies are eager to do business there #wef14 #davos
Some takaways from #Davos: 1) #Euro zone no longer a concern, but emerging markets are #wef14
MILAN, Jan 24 (Reuters) – Two Italian mid-sized lenders came
under the spotlight on Friday as Banco Popolare
announced it would need a capital increase and Banca Popolare di
Milano’s top investor sold his stake in the bank.
The announcements highlight the fragility of the country’s
second-tier banks, some of which are grappling with soaring bad
loans as an Italian economic crisis hits small and medium
More action on #Italy’s banking front: Pop Milano top investor Bonomi, who had fought to improve the governance, sold its entire stake
Several #Davos partecipants said they expect new merger wave among #Italy #banks, especially small ones. #wef14
Italy’s Banco Popolare says will tap the market for 1.5 bln euros after profit warning. #AQR already starting to impact #Italy #banks
DAVOS, Switzerland, Jan 23 (Reuters) – A health check of
euro zone lenders led by the European Central Bank is likely to
trigger mergers among mid-sized Italian banks and big disposals
of bad loans, the head of Italy’s No. 1 retail bank Intesa
Sanpaolo told Reuters TV on Thursday.
Carlo Messina, who took over as chief executive in
September, said larger Italian banks such as Intesa Sanpaolo
were in a better position to withstand the ECB’s Asset Quality
Review (AQR), which he said would be a very tough exercise – and
not just for Italian banks.