December 13, 2019 / 2:06 PM / 7 months ago

No need for state to help any Italian bank at present - PM Conte

BRUSSELS (Reuters) - The Italian banking system is in good health, Prime Minister Giuseppe Conte said on Friday, dismissing the idea that Rome might need to pour tax payers money into sickly lenders.

“The Italian banks have made big improvements. At the moment there is no need for the state to help any Italian lender,” Conte told a news conference in Brussels.

A government source told Reuters earlier that the government was preparing a decree for the rescue of Banca Popolare di Bari after the unlisted cooperative lender revealed a capital shortfall of up to 1 billion euros (£859.08 million).

The measures would include a government guarantee for the bank’s debt to support liquidity and a backstop on a capital injection, the source said.

Reporting by Giselda Vagnoni; Editing by Crispian Balmer

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