Intesa Sanpaolo Says Willing to Buy Certain Assets, Liabilities From Vicenza, Veneto Banca

By Giovanni Legorano Features Dow Jones Newswires

Intesa Sanpaolo SpA said Wednesday it is willing to buy at a symbolic price, and only at certain conditions, parts of the businesses of two troubled Italian banks, raising the prospects for Italy's second largest bank to become their savior.

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The bank said its board has given the green light to the purchase of some assets and liabilities of Banca Popolare di Vicenza SpA and Veneto Banca SpA, two mid-sized Italian lenders which asked in March to tap government money to stay afloat.

However, Intesa said this will need to happen at terms and conditions which won't dent the lender's capital buffer and affect its dividend payout policy.

In particular, the bank said it isn't available to buy the two banks' problematic loans, risky performing loans, junior bonds and other assets and liabilities.

Write to Giovanni Legorano at giovanni.legorano@wsj.com

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June 21, 2017 10:38 ET (14:38 GMT)