"Appetite for term deposits is low ... and we're seeing a
growing number of banks that are massively overpaying for term
deposits," he said.
(Reporting by Valentina Za, editing by Giselda Vagnoni)
MILAN, May 9 (Reuters) - The growing interest of small
savers for Italian government bonds poses a problem mainly for
specialised lenders that rely on deposits to finance lending,
the chief executive of FinecoBank said on Tuesday.
Speaking to analysts, CEO Alessandro Foti said projections
Fineco had made on its deposits already incorporated any
potential competition from government bonds.
Helped by higher interest rates, Italy's right wing
government is striving to increase the amount of public debt in
the hands of domestic retail investors - in a potential threat
to asset gatherers such as Fineco or banks.
Foti told analysts the main problem was for specialised
lenders that used time deposits to raise funding.
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