Intesa San Paolo has achieved the main objectives set out in the industrial plan. This was underlined by the managing director, Corrado Passera, on the sidelines of the presentation of the “Superflash” project in Milan. "At the end of the first half year, the bank had capital requirements which envisaged the distribution of a 2011 dividend as the underlying hypothesis in line with that of 2010: this coupon, applied to the current stock market price, is a fine yield". Passera then pointed out that "none of the investments has stopped, none of the projects has slowed down due to what is happening around us" and replied with a "no comment" to a question about Intesa's possible next assignment as advisor for the consortium Italian on the Edison dossier.
Passera also highlighted the need for Italy to grow more than it is doing now and that it "acts on all levers: from exports to public and private investments up to consumption". The fact that 75% of young Italians under 35 live at home with their parents leads one to think "that Italy has stopped and the handbrake is on". The CEO of Intesa also expressed a positive opinion on the liquidity injection of the central banks which "is a positive operation, even if it falls within the task of these institutions".
In the early afternoon of today came the news of Intesa San Paolo's entry into Eni's share capital with a 2,099% stake, until now held in indirect asset management. Consob communicated it on its official website, reporting 8 September as the date of the operation.
