“I am convinced that a reduction in interest rates will be achieved in the second half of the year.
I believe it is right to acquire more information and data but that this path will be inevitable." He states it Charles Messina, managing director and CEO of Intesa Sanpaolo in an interview with Class Cnbc da Davos, during World economic forum.
The reduction in the interest rate, adds Messina, “can increase the GDP in all countries.
Inflation is falling significantly in all countries; in Italy in particular, inflation is completely under control at the moment. For us, lower rates will still mean maintaining high profits, indeed we will probably return to being a company that will have strong growth in terms of commissions". Intesa Sanpaolo, he concludes, “has one trillion three hundred billion in Italians' savings, the majority of which is managed savings and insurance. So we expect a very good 2024, whatever the interest rate scenario."
Messina and the 1,5 billion commitment
“We have decided to commit 1,5 billion euros to a program with a high social impact to combat poverty and reduce inequalities to be the first impact bank in the world”. Thus, again from Davos, the CEO of Intesa Sanpaolo.
“The investments we are making in this area are second only to our investments in technology, artificial intelligence, digital banking. At the same time, thanks to our social activities we provide work to people who may find themselves in difficult situations due to the impacts of artificial intelligence on work: out of one hundred thousand people who work in Intesa Sanpaolo, one thousand work in the social sector. I believe that working for the corporate social responsibility and for those in need it could also be a path for other companies that could thus develop technology without reducing employment levels", added Messina.
