Finances

INTESA SANPAOLO TO BUY VENETO BANCA

22 june, 2017

Veneto Banca (Italia), which is 100% owner of the Moldovan Eximbank, will be purchased by the Italian bank Intesa Sanpaolo SpA.

According to the Intesa Sanpaolo SpA press release, the bank’s Board of Directors approved the purchasing of two problematic banks in Italy - Banca Popolare di Vicenza and Veneto Banca

The document says that the Intesa Sanpaoplo is ready to buy only good assets of these two banks, except the bad and risky loans, non-priority bonds and other assets, which may worsen the bank capital adequacy or affect its dividend policy.

Moldovan daughter of the Italian Gruppo Veneto Banca – Eximbank went through a difficult period, connected with radical cleaning of credit portfolio and now came to rentable activity. Currently, the bank has assets of 4.9 billion lei, the sum of bad loans – 973 million lei, authorized capital – 1.25 billion lei, liquid assets – 2.6 billion lei, deposits in general – 3.3 billion lei, physical persons’ deposits – 2.4 billion lei, credit portfolio – 1.7 billion lei.

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