Intesa Sanpaolo said Monday that its participation in a rescue plan for four crisis-hit Italian banks will cost it 475 million euros. The 3.6-billion-euro plan, approved by the government on Sunday, seeks to save four small lenders - Banca delle Marche, Banca Popolare dell'Etruria e del Lazio, Cassa di Risparmio della Provincia di Chieti and Cassa Di Risparmio di Ferrara.
Intesa Sanpaolo said the charges derive from 380 million euros, before tax, related to an extraordinary contribution to the Fund and an ordinary contribution of 95 million euros which had already been booked in the first half of this year.
It said it will lend the Fund some 1.33 billion euros.
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