March 6, 2019 / 11:08 AM / 13 days ago

Intesa confirms business plan targets despite economic slowdown: CEO

FILE PHOTO: Intesa Sanpaolo bank logo is seen at the headquarters during shareholders meeting in Turin, Italy, April 27, 2017. REUTERS/Giorgio Perottino

FLORENCE, Italy (Reuters) - Italy’s biggest retail bank Intesa Sanpaolo sticks by targets set in February last year under a business plan to 2021 despite the worsening economy, Chief Executive Carlo Messina said.

“I think that Italy’s gross domestic product will improve in the second half of the year. We continue to see all targets under our plan as totally achievable”, Messina told reporters on Wednesday on the sidelines of an event in Florence.

Messina added that a new round of targeted longer-term funds from the European Central Bank was “very likely” given the current economic slowdown.

Reporting by Silvia Ognibene, writing by Gianluca Semeraro, editing by Valentina Za

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