Monte dei Paschi an isolated case, says Intesa's Bazoli
TURIN Jan 24 (Reuters) - The Italian banking system is healthy, and the derivatives loss of about 720 million euros ($956 million) at Banca Monte dei Paschi di Siena is an isolated case, said one of Italy's most respected bankers on Thursday.
"This is an isolated episode," said Intesa Sanpaolo supervisory board chairman Giovanni Bazoli on the sidelines of an event. "The bank has completely new management and the situation can in no way be generalized. The Italian banking system is healthy."
On Wednesday the Tuscan lender said it was reviewing three more loss-making structured trades related to its lending which only recently came to light and were negotiated by its previous management, sending shares tumbling. (Reporting by Gianni Montani, editing by Jennifer Clark)
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