LONDON/MILAN/ATHENS Greece's Eurobank is struggling to finalize a deal to sell a majority stake in its loan-recovery business to U.S. money manager PIMCO, sources familiar with the matter told Reuters, after a Sept. 30 deadline passed with no agreement.
ROME/MILAN Italy is in talks with the European Commission over a plan to rid state-owned Monte dei Paschi di Siena of around two thirds of its soured loans to pave the way for a sale of the bank, a source with direct knowledge of the situation said.
ROME/MILAN, Oct 3 Italy is in talks with the
European Commission over a plan to rid state-owned Monte dei
Paschi di Siena of around two thirds of its soured
loans to pave the way for a sale of the bank, a source with
direct knowledge of the situation said.
VENICE, Italy Italy's biggest bank UniCredit is on track to meet its goals to cut soured debts and has no need for large disposals of so-called "unlikely-to-pay" loans, a senior executive said on Friday.
VENICE, Italy Loan recoveries are falling short of expectations in a number of Italian bad debt securitizations, including a record deal by bailed-out Monte dei Paschi di Siena whose performance has weakened further in the past six months, Moody's said.
MILAN The European Central Bank's chief supervisor expressed concern on Tuesday that European banks were not taking full advantage of favourable markets to issue more debt, especially the type that can be used to soak up losses.
CERNOBBIO, Italy With the arrival of a new government in Rome, France and Italy have a unique chance to strengthen their ties through joint projects and closer cooperation on European matters, French Finance Minister Bruno Le Maire said on Saturday.
CERNOBBIO, Italy Italian business leaders called on the country's new government on Friday to restore incentives for investment and to support economic growth, while keeping public finances in check.
MILAN Italy's Banca IFIS is in exclusive talks to sell some of its operations to rival Credito Fondiario, IFIS said on Friday, in a deal that would create a leading player in the soured loans market.
MILAN Italy's biggest retail bank Intesa Sanpaolo has clinched a deal with U.S. hedge fund Davidson Kempner over 10 billion euros ($11 billion) in problem loans, moving closer to a 2021 target of cutting soured debts to 6% of total lending.