This seem to be quite the opposite strategy of Unicredit that is aiming at gaining efficiency before seeking growth that may result in additional risk and capital increase requirement.(my article in Italian)
The move of Intesa Sanpaolo appears to be in line with the revised approach of European Central Bank that recently softer its stance toward tie-ups as the sector struggles to make money against backdrop of low rates.
Cerved granted a period of exclusivity to Intrum Italy for the negotiation of the potential sale of the Credit Management division, which deals with the management and recovery of receivables. The decision falls within the context of a “process aimed at deepening the hypothesis of enhancement of Credit Management”. Last September, Cerved had given a mandate to Mediobanca for the “exploratory evaluation of strategic options” (read the press release)
Even though NPE are leaving banks’balance sheets the workload for credit management industry appear to be increased rather than reduced
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GLG – Gerson Lehrman Group – Council Member