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Sga hires Kpmg for the bad loans of the Venetian banks

 

 

Kpmg will be Sga’s advisor for the management of 18 billion bad loans coming from the former Venetian banks, with an assignment won after a bid which saw the participation of all the main consulting firms of the sector. Kmpg enters when the game is in a crucial phase: while waiting for the Department for Treasury to define the amount of NPLs destined to Sga, necessary for the actual transfer, it is rumoured that a confidentiality agreement has been reached with the banks to access the files and intervene where needed.

In the meanwhile, Sga is working at strengthening its operational structure, currently represented by roughly sixty people. In the past few days, the company has been carrying out interviews with former consultants of the Veneto and Vicenza banks and of Intesa Sanpaolo as well, considering a potential collaboration with the company established to manage the bad loans of Banco di Napoli. Another important step is the selection of the servicing company: an involvement of Intesa is very likely, at least temporarily, before launching the tender to form the pool of operators.

 

Source: https://amp-ilsole24ore-com.cdn.ampproject.org/c/amp.ilsole24ore.com/pagina/AE71pPXC

Translator: Cristina Ambrosi