UniCredit: Common Bad Bank with Intesa Sanpaolo?

Business › n.a. ♦ Published: April 22, 2014; 09:12 ♦ (Vindobona)

The parent company of Bank Austria may create a common bad bank with its Italian competitor Intesa Sanpaolo. The bad bank may be sold later on.

UniCredit Has To Prepare for the Stress Tests / Picture: © UniCredit Banca

In order to prepare its balance sheet for the stress test, UniCredit and Intesa Sanpaolo try to reduce its bad loan portfolio. In total, the bad loan portfolio has a size of € 60bn, insiders say.

At the beginning of this year, UniCredit´s CEO Federico Ghizzoni stressed that the debate about the reduction of non-performing loans has begun to intensify. “UniCredit is…

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UniCredit, Italy, ECB European Central Bank, EBA European Banking Authority, NPL Non Performing Loans, Banking Industry, Bank Austria, Bad Bank
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