Global Analysis from the European Perspective. Preparing for the world of tomorrow

Italian bank collapses on exposure to Greensill and GFG

An Italian bank has collapsed through exposure to Greensill Capital and GFG Alliance, as the shockwaves from the failure of the British finance company claimed another casualty.

Milan-based Aigis Banca, a specialist lender to small and medium-sized businesses, was ordered into liquidation by the Bank of Italy at the weekend, with larger peer Banca Ifis buying its assets and liabilities for the symbolic price of €1 ($1.60). Source Financial Review

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