January 16, 2014 / 12:31 PM / 4 years ago

Italy's banks not at risk if Monte Paschi cash call fails - Intesa exec

MILAN, Jan 16 (Reuters) - Italy’s banking system would not be at risk if the planned capital increase at No. 3 lender Banca Monte dei Paschi di Siena failed to go through, the chairman of the supervisory board of Intesa Sanpaolo said on Thursday.

“I see absolutely no risk,” Giovanni Bazoli said.

Monte Paschi has had to delay its plans for a capital increase due to opposition from its main shareholder.

On Wednesday Monte Paschi’s chairman Alessandro Profumo said failure to carry out a 3 billion euro ($4 billion) cash call could pose a problem for the banking system as a whole.

$1 = 0.7356 euros Reporting by Gianluca Semeraro, editing by Stephen Jewkes

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