Intesa Sanpaolo let it be known that, after the go-ahead from the ECB and the other authorities involved, the Luxembourg subsidiary Fideuram Bank Luxembourg concluded the acquisition of 100% of the Belgian bank Compagnie de Banque Privée Quilvest (CBPQ).
The operation, reports a press release, will allow the new company to expand its support to Italian and foreign High Net Worth Individual customers, not only in Luxembourg. CBPQ, with about 140 employees, manages about 8 billion euro of Aum (loans included).
The acquisition of CBPQ "will lead to the creation of an additional hub within the European Union, alongside Reyl & Cie in Switzerland, dedicated to international and European clients" and will allow Fideuram-ISPB "to develop the international private banking in areas with promising growth prospects, particularly in Luxembourg and Belgium”, continues the note.
Intesa sells 1,4 billion Npl to Amco
Furthermore, Intesa Sanpaolo announces that it has sold approx 1,4 billion euros gross of non-performing leasing loans to Amco, a company owned by the Mef and active in the management of NPLs. The acquisition operation will be completed by the end of 2022.
The portfolio covered by the agreement includes receivables deriving from leasing contracts, mainly from corporate customers, with underlying assets mostly of a real estate nature. With this operation, Amco "confirms its desire to strengthen its presence in the leasing sector, supporting the originator banks in their derisking processes with the aim of establishing long-term relationships".
Amco has also signed a contract with the Intesa Sanpaolo Group for the purchase of a portfolio of single name UTPs with a gross value of 120 million euro.
