'Monte Paschi sells Antonveneta'

'Monte Paschi sells Antonveneta'

World July 20, 2016 11:12

- The troubled Italian bank Banca Monte dei Paschi di Siena according to Italian media wants his daughter Antonveneta, previously owned by ABN Amro, get rid of.

That impending surgery reported the Italian newspaper Corriere della Sera Wednesday.

Banca Monte dei Paschi di Siena bought during the credit crisis from the assets of ABN Amro location component Antonveneta at € 9 billion in cash.
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The bank would see no other solution to his problems than to divest the purchase.

The oldest Italian bank would also engaged to sell packages with barely repaid loans to an Italian fund, to compensate for a shortage of capital of € 5 billion. This was reported Bloomberg.

Banca Monte dei Paschi di Siena would like to dispose of problem loans totaled € 25 to € 30 billion to Atlante2, the new Italian fund.

The bank also wants to sell shares. That would happen without government, one of the stumbling blocks of the Italian Government in consultation with the European partners that the country blame state. But after the previous rounds of capital support, analysts see no quick how the bank can strengthen its position in the market.

Deutsche Bank warned earlier that Italian banks need to support together € 150 billion to avoid a credit crunch as in 2008.

Antonveneta already belonged to purchase ABN Amro a favorite of Banca Monte dei Paschi di Siena. The Dutch bank was the Italians in 2005, just prior to the acquisition.

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