MILAN, March 14 (Reuters) - Intesa Sanpaolo is
not offering higher remuneration on its retail deposits and has
only moved to pass on higher interest rates to its key corporate
customers, its finance chief told investors on Tuesday according
to a person who attended the meeting.
Speaking in London at a banking conference organised by
Morgan Stanley, Chief Financial Officer Stefano Del Punta said
Intesa was now paying the Euribor rate on the deposits of its
most important clients in the large corporate cluster - who were
earlier charged a negative 50 basis point rate, the person said.
Del Punta said Italy's biggest bank had also slightly
improved deposit remuneration for its private banking customers
while there was no repricing whatsoever on retail deposits, with
clients asking for remuneration being offered instead money
market products.
(Reporting by Valentina Za; Editing by Crispian Balmer)
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