The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.

Intesa seeks partners for NPLs, asset management

Carve out of NPL servicing; minority owner sought for Eurizon.

Carlo Messina-600

Carlo Messina, CEO of Intesa Sanpaolo

Chief executive Carlo Messina presented Intesa Sanpaolo’s 2018 to 2021 business plan in February, positioning the bank as a fee-driven, efficient and low-risk wealth management company and a leading bank for corporate social responsibility.

What the market most wanted to hear about, however, was the plan for non-performing loans (NPLs).

The new plan is for the bank to cut its volume of net NPLs from €22.5 billion to €12.1 billion by 2021. This appears to be a change in approach by the bank, which had previously been focused on maximizing recoveries by dealing with NPL disposals in-house.

It is also a clear indication of the impact of the European Central Bank’s tougher line on NPLs that was introduced last year.

“This is a decision to be ready to accelerate the timing of recovery,” says Messina.

Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to and analysis and receive expertly-curated updates direct to your inbox.


Already a user?

Login now


We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree