EU levies weigh on Intesa Sanpaolo

Mandatory payments to the European Union's Single Resolution Fund (SRF) asked of Intesa Sanpaolo hit €199 million ($223 million) in the first quarter, up 20% year-on-year.

The Italian lender also paid out €5 million to a deposit guarantee scheme that covers its overseas units and €12 million for charges incurred by certain subsidiaries. These were offset slightly by a release of reserves from its interest in the Atlante private equity fund, which invests in the toxic loans of Italian banks.

L

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: