Chief Financial Correspondent, Italy, Milan
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Mar 14, 2013

Bank of Italy tells banks in the red not to pay bonuses, dividends

ROME, March 14 (Reuters) – The Bank of Italy told Italian
banks to further hike provisions they set aside against bad
debts to take into account the worsening economic scenario and
asked lenders which posted losses not to distribute dividends or

The statement came after the central bank carried out an
audit of Italian banks’ 2012 accounts which forced some lenders
to hike their loan loss coverage.

Mar 14, 2013

Generali’s CEO pushes ahead with balance sheet clean-up

MILAN, March 14 (Reuters) – New Chief Executive Mario Greco
sought to make a clean slate at Generali by carrying
out large writedowns on the insurer’s assets in 2012 while still
managing to beat an operating profit target and improving
capital strength.

Italy’s No.1 insurer on Thursday posted full-year net profit
of 90 million euros ($116.55 million) after net impairments of
1.7 billion euros on available for sale assets, loans, real
estate assets and on its indirect investment in Telecom Italia

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    • About Lisa

      "I have been a correspondent for 13 years, reporting on banks, financial regulation and EU politics from London, Brussels, Zurich and Milan. I have also written about a variety of business sectors, general news, the arts and sport. As Chief Financial Correspondent for Italy, I keep a close eye on top Italian business stories, particularly Fiat and banking."
      Joined Reuters:
      English, Italian, French, German, Dutch, Spanish
      2010 Reuters Star Performer Award
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