Intesa CEO says no to more money for fund rescue of Carige

FILE PHOTO: Messina, CEO of Intesa Sanpaolo bank looks on during shareholders meeting in Turin
FILE PHOTO: Carlo Messina, CEO of Intesa Sanpaolo Bank looks on during a shareholders meeting in Turin, Italy April 27, 2017. REUTERS/Giorgio Perottino

May 15, 2019

MILAN (Reuters) – Italy’s biggest retail bank, Intesa Sanpaolo , will not put any more money into an industry fund that could come to the rescue of struggling regional lender Carige, Intesa Chief Executive Carlo Messina, said on Wednesday.

Italy’s deposit protection fund is under growing pressure to lead the rescue of Carige after U.S. asset manager BlackRock pulled out of a consortium that was to have invested more than 700 million euros in the bank.

(Reporting by Gianluca Semeraro; Editing by Mark Bendeich)

Source link