Reuters logo
Popolare di Vicenza chairman says there are no deposit outflows
June 23, 2017 / 8:27 AM / 6 months ago

Popolare di Vicenza chairman says there are no deposit outflows

MILAN, June 23 (Reuters) - Popolare di Vicenza Chairman Gianni Mion said on Friday there were no deposits outflows at the regional bank which is heading towards liquidation together with local rival Veneto Banca after the state failed to win European approval for a state rescue.

After Rome failed to find private investors ready to contribute to the state bailout as demanded by Brussels, the two banks are expected to be split up with Intesa Sanpaolo set to buy their healthy assets for 1 euro and the state taking on all their problems loans and legal risks.

Speaking on the sidelines of an event, Mion said the latest developments had not triggered fresh deposit outflows. The two banks, which requested state aid in February, have issued 10 billion euros in debt guaranteed by the state to offset past deposit flights.

He added Intesa’s was the only offer on the table as far as he knew.

“That’s what has been decided, we’ve failed the test, it’s no use ranting against the professors now ... I failed ... now everyone is going to think 1 euro is enough,” Mion said. (Reporting by Elisa Anzolin, writing by Valentina Za, editing by Francesca Landini)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below