Veneto Banca and Banca Popolare di Vicenza, blighted by bad loans and a mis-selling scandal, will open as usual on Monday, says finance minister

The Italian government is stepping in to wind up two failing lenders and prevent a bank run, at a total cost of up to €17bn (£15bn).

After an emergency cabinet meeting on Sunday, ministers agreed to a decree splitting Veneto Banca and Banca Popolare di Vicenza into ‘good’ and ‘bad’ banks, keeping branches open.

Continue reading…

Facebook Comments

This site uses Akismet to reduce spam. Learn how your comment data is processed.