MILAN, March 28 Italy's biggest retail bank, Intesa sanpaolo, targets a net non performing loan ratio of 6 percent by the end of 2019 from 8.2 percent at the end of 2016, a source with knowledge of the situation said on Tuesday.
The source said that the bank's board had completed a review of its plan to reduce problematic loans organically, rather than through sales. The gross NPL ratio is expected to fall to 10.5 percent by the end of 2019 from 14.7 percent at the end of 2016. (Reporting by Gianluca Semeraro, writing by Silvia Aloisi)
Australia's Fairfax enters mortgage broking business
SYDNEY, June 29 Australian newspaper publisher Fairfax will foray into the mortgage broking business, following a similar move by rival News Corp, at a time when regulators are tightening the screws on bank lending in the country's red-hot property market.