January 23, 2018 / 11:14 AM / a month ago

DAVOS-Intesa Sanpaolo CEO says top priority in plan is cutting bad loans

DAVOS, Jan 23 (Reuters) - The top priority for Intesa Sanpaolo’s new business plan will be cutting the Italian bank’s exposure to non-performing loans, Chief Executive Carlo Messina said on Tuesday.

“We are ready to present a new plan which will increase value creation for the group and priority number one will be reducing the stock of non performing loans,” Messina told Reuters TV at the World Economic Forum in Davos.

Italy’s biggest retail lender is due to present its new business plan on Feb. 6.

The bank has significant potential to grow its asset management business internally, Messina added when asked about possible M&A in the asset gathering business. (Reporting by Silvia Alosi; writing by Francesca Landini; Editing by Keith Weir)

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