Intesa Sanpaolo pledges €15bn emergency loans to Italian companies
Intesa Sanpaolo will provide Italian companies with €5bn worth of new one to 1.5 year loans, and offer an additional €10bn of debt to customers through existing credit lines, to help steer the nation's economy through the Coronavirus crisis.
The Italian bank announced the measures on Tuesday afternoon.“We are deploying significant resources, equal to almost 1% of GDP,” said Carlo Messina, chief executive of Intesa, in a statement. “We can do this because Intesa Sanpaolo has the size, solidity and widespread presence that enable extraordinary ...
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