Home Business Vietti: “I want to bring the Lombard model to FinPiemonte”

Vietti: “I want to bring the Lombard model to FinPiemonte”

by admin

TURIN. Alberto Cirio chose it to relaunch FinPiemonte, a task that he considers “extremely demanding” even if he says he is optimistic about the possibility of fixing the accounts probably in the red of the subalpine financial company: “Obviously I reserve the right to see the accounts and understand the causes. I read that there is a problem with non-performing loans. In Finlombarda this aspect has been brought back to normality with constant monitoring and today it is well below the system average. The coverage of bad loans is close to 90% and our rating, according to Fitch, is that of the Italian Republic. Why can’t Finpiemonte do the same? ». Michele Vietti, a lawyer with a long political experience in the DC that began in the Turin City Council and continued among the Catholic groups that supported Silvio Berlusconi and then became autonomous. He was Undersecretary for Justice and the Economy, Vice President of the CSM and since 2017 he has led Finlombarda.

Lega and Fratelli d’Italia did not take his appointment well.

«I am not aware of any reservations from the League. I have read that Crosetto credits me, goodness, with legal competence but doubts my financial competence. Evidently in recent times he has been very busy with his “star wars” and has not noticed that for four years I have been president of Finlombarda, of the Association that brings together all the Italian regional financial companies, councilor of ABI and member of the board of the Association of European public banks “.

What does it bring to Piedmont?

See also  LG will no longer produce smartphones. "Timed assistance and updates"

“I accompanied Finlombarda in the transition from the difficult situation in which it found itself in 2017 to the excellent results of the last two years: loans to businesses went from 150 million in 2019, to 300 in 2020 and to 600 this year. And if we add the disbursements made on behalf of the Region we will reach one billion. I bring with me the experience of best practices that can be shared, expanding the horizon of interventions to the entire North-West ».

Vietti in Finpiemonte: the Cirio line passes but the center-right splits

claudia luise, alessandro mondo


How do you see the Piedmontese production system compared to the Lombard one?

«It is a homogeneous territory for the quality of the entrepreneurial fabric, severely tested by the pandemic and in need of financial resources to start the recovery and take up the challenge of increasingly global competitiveness: we have overcome Ticino as a border for some time. I lived an experience that has many similarities with Finpiemonte ».

Meaning what?

«Finlombarda had gone through a judicial storm, in three years it had changed 4 general managers and the Region even doubted its mission. Today it has solid governance with a stable and collaborative board, a general manager who comes from a private banking experience. I hope the same can happen for Finpiemonte ».

Where to start from?

“I intend to give back to those who work in the Piedmontese Finance Company the pride and satisfaction of doing so and I believe that the company has professionalism and resources”.

See also  Tesla delivered over 240,000 vehicles worldwide in the third quarter, Model 3/Y dominates the market

Was it a wrong choice to think of Finpiemonte as a bank?

“Maybe not, but being part of the register of financial intermediaries is a very demanding and costly choice. It means being subject to the supervision of the Bank of Italy and adopting stringent regulations both in terms of governance and the granting and management of credit, as well as all aspects concerning the control system, anti-money laundering and so on. We need to be equipped ».

Are we still paying the consequences?

“Certainly not having full accessibility and autonomy on the financial market is limiting but an in-house company with a territorial vocation can do well even by managing only regional resources. Finlombarda produces a leverage effect equal to 10 times: for one euro made available by the Region, 10 are mobilized from the Lombard financial system. However, this requires that a relationship with the banks be re-established, because only the involvement of the entire world of credit can move the resources that businesses need “.

How do you intend to move?

«Finlombarda products are mostly co-financed with credit institutions and they work. We must also think about the provision of consultancy services to the Region and to businesses that must be assisted from a financial, technological point of view and participation in community tenders ».

Will Finpiemonte play a role in the management of the NRP?

“As president of the regional finance companies I am trying to convince the State-Regions Conference and the government that the regional finance companies, as the operational arm of all the regions, can and want to play a role in channeling the resources of the NRP from Europe to businesses in the area. We are the ones who know best the needs and expectations of the productive fabric and therefore we are candidates to convey European funds from the center to the periphery. Without forgetting those that will come from the 2021-2027 community programming ».

See also  A school theme revealed the bully, a teacher acquitted by the accusation of not having supervised

Over 3 thousand projects presented throughout the Region. Isn’t there a risk of wasting the resources of the NRP?

«The projects will be carefully and rigorously checked and only those who have solid legs to walk will be able to reach their destination. The funds will be disbursed as the work progresses and therefore things will not be enough to have them written down, but they will have to be done. Finlombarda has decided to open an office in Brussels also to oversee this delicate and unique phase of financial support and I do not exclude that Finpiemonte can benefit from this direct line with Europe “.

.

0 comment
0

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy