“In the coming weeks we should come to one decision of the Commission, the Competition DG on aid. And therefore the Treasury will proceed with the precautionary recapitalization”. This was stated by Fabrizio Pagani, Head of the technical secretariat of the Ministry of Economy, regarding the Mps affair.
“In all of this – he added, speaking at the eighth Bank and Business Forum organized by the 24 Ore Group – it is not that the bank has stood still. He is working to reduce costs, he presented a plan, there is a return of deposits, it seems to me that the bank has been safe for a few months already“. Mps, underlined Pagani, "presented an industrial plan which is being discussed with the Commission and which allows for an important return to profitability even with a personnel cut". "We must have full confidence in the bank, in its managers so that MPS can return to being sustainable in the medium-long term," he concluded.
Fabrizio Pagani then also touched the issue of Npls (Non-performing loans, uncollectible credits) which he essentially sees concentrated in two blocks, “with a large chunk in the hands of Mps and the two Veneto banks. If we manage to solve these two specific cases we have significantly reduced the stock of NPLs ”, he stressed. Pagani then noted that “the two big banks, Intesa Sanpaolo and UniCredit, which are among the most solid in Europe, have done a great job of cleaning up and therefore don't represent problems. The others, such as Ubi and Banco Bpm - he continued - are working with natural times for the disposal of NPLs. I remind you – he concluded – that the total amount is below 2014 and the flow of new non-performing loans and also unlikely to pay loans is sharply decreasing”.
But how to solve the knot then Npl for Montepaschi? "We are studying to find the most suitable solution", even with the possible use of Gacs. On the subject, you concluded, the Atlante fund is also at work, which "is negotiating with MPS".
