June 9, 2014 / 8:22 AM / 4 years ago

Intesa may borrow fresh longer-term ECB funds if terms attractive

MILAN, June 9 (Reuters) - Intesa Sanpaolo may borrow from the European Central Bank under a 400-million euro scheme aimed at boosting lending to companies if the terms if the operations are attractive, the chief executive of Italy’s biggest retail bank said on Monday.

“We do not need fresh liquidity, and we plan to extend loans for 170 billion euros under our four-year business plan, it is an already significant amount ,” CEO Carlo Messina told Reuters on the sideline of an event.

“We need to look at the technical details. If the TLTRO (targeted longer-term refinancing operations) will offer favourable conditions we’ll assess whether to expand our lending further.” (Reporting by Giulio Piovaccari, writing by Valentina Za, Editing by Lisa Jucca)

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