TURIN Jan 24 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
"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)