Coronavirus emergency: €50 billion to relaunch Italy
Intesa Sanpaolo, thanks to the new enabling measures introduced by the Italian government, increases to €50 billion the total amount of credit available to address the COVID-19 emergency.
Intesa Sanpaolo plays a central role in providing credit to Italy’s families and businesses. With a loan book of €450 billion at Group level – equal to over 25% of Italian GDP – Intesa Sanpaolo has increased lending during the crisis, with an additional €5 billion in March 2020 alone. Medium- and long-term lending in the first three months of the year totaled €15 billion.
The new lending includes both new credit lines with a duration of 18 months and pre-approved credit lines made available as cash liquidity to deal with urgent payments.
The €50 billion in additional credit is in addition to the suspension of loan payments for families and businesses that Intesa Sanpaolo announced in the very early stages of the emergency.
Our Group has put in place significant initiatives to combat the effects of the pandemic both socially and economically. Today, we are able to further increase the liquidity available to SMEs, to overcome the emergency and relaunch Italy.
Carlo Messina, CEO of Intesa Sanpaolo
Last updated 15 April 2020 at 15:06:51