Intesa, UniCredit, BancoBpm: what changes for Italian banks with interest rates up

The key points

• We start on the right foot
• The effects of record rates
• The spread risk and the cost issue

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After more than a decade of negative or low interest rates, the wind on rates has changed. The move launched on Thursday by the European Central Bank, with a 75 basis point hike in reference rates, confirmed the decisive change of course undertaken in July. And the intentions of Frankfurt, although still to be clearly decrypted in the modalities, nevertheless suggest the desire to decisively reduce inflation expectations to the 2% target.

For the banks of the Old Continent, not even …

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