Breakingviews: Intesa spring clean heralds return to health
Friday, March 28, 2014 - 03:37
Mar. 28 - With Intesa Sanpaolo seeing its share price go up it seems there’s nothing like posting a deficit of €4.5 billion to grab investors, says Breakingviews.
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Another Italian bank shocks as it tends to clean up its balance sheet -- a health checks later on this year. I'm -- some power is the language talking about today without breaking views don't Kelly has been following this one I'm. The stock is up clearly a market like something are you impressed with this -- this new business. Was that a kitchen -- information so you know credit to the same thing you know I -- this month how to. You know a double digit. Billion Euro notes today we've got something similar from into exile pilots it. It's about a -- five billion -- adults. What they're doing is they're trying to prepare themselves Italian banks but also -- On the European banks for the a -- -- the asset quality review of Europe's banking system and also the stress test this from a combined package than trying to get all the bad news out now so that when these tests have done. These guys don't look to -- I -- -- -- used to the French kitchen sink which which is exactly what it what it feels like why isn't the market saying. Hold on guys that should have been on a long time. Or they should have been done over the past few years throwing it -- -- today is not so impressive so I don't know it just a unity and leadership. Well I think investors like transparency right they wanna see what's going on they want to be. Confident that everything is being dealt if there's a feeling it's -- particularly that a lot of the problems that crisis related where hidden. So there hasn't been. And consolidation really and it's really mean that have been. Banks and a panel of government support for good -- to pass -- and that that's what's so much. Trouble connecting to it. Again there wasn't any sort of forced. Consolidation -- it -- into the UK with -- H a and so on brought him being -- Yeah it's and he was still seen as a bit of a policy -- into banking sector times it feels now as if they're finally getting to grips of that. I'm -- -- who has an annual miles what will have so that in the -- -- Sullivan European banking is so long as your child's parents or zero list. Whatever happens director. So quite how I say about you know I I Syria coming coming to the point is that people do you feel that. This is really the time bangs gets into gross things printing the stuff that they should've done idea to the forefront now. Islands and if you take contagious how -- does the time we're talking about today. It's also pledged to pay how melts and lots of cash and ten billion. Euros over the next four years -- investors are understandably happy without. Is the worst over for Italian banking in general was a -- the bigger new music is that Italian economy is starting to recover. Nice on this field you know lost here that was the peak in terms of loan losses. Today. It's me what I Nico from him French banks in the same thing that piling into its initial -- and BNP Paribas they recommend -- the Credit Agricole they -- they can. Cross silence it from the site yeah everyone feels that in Italian banking is on the up. I guess -- many things that Dominic Elliot from about breaking news. If you are what are you show 1230 east and 1730. GMT 1630 GMT from Monday because of course -- change. I'm axle problems -- sources.
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