Looking for partners to dispose of suffering. Monte dei Paschi is convinced that it can do it without new capital increases but needs to find a specialized partner to sell a large part of its non-performing loans on the market with the guarantee of the State. "It will take a few months" to find it, said the CEO of the Sienese bank, Fabrizio Viola.
So far, Monte dei Paschi has sold 2 billion of non-performing loans and plans to sell another 3,5 billion to achieve the goal of reaching 2018 with 5,5 billion less bad loans, exploiting on the one hand the boost from the State guarantee offered by the Government after the recent agreement with the European Commission which will be implemented this week by the awaited decree on banks and on the other hand the professional competence of a specialized partner.
The operation, according to what Viola was keen to underline, will take place without the need to resort to new capital increases.
