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Milano, 17 February 2003

Banca Intesa carried out the full audit of its Peruvian subsidiary and is now implementing a business plan to complete the restructuring process and to re-launch Banco Wiese Sudameris.

 

“There is no negotiation underway for the disposal of Banco Wiese Sudameris” confirmed Banca Intesa’s CEO Corrado Passera “The full audit outcome brought to light that our Peruvian subsidiary has an embedded value which must be properly exploited in order to be fully appreciated by the market. Following the completion of the full audit we decided that re-launching our Peruvian subsidiary is the best way to create value for Banco Wiese Sudameris stakeholders and Banca Intesa shareholders. Therefore Gruppo Intesa is supporting Banco Wiese Sudameris’ development plan also by injecting funds of USD 150 million in order to speed up the achievement of the expected results”.

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