Patuelli: 'Let's not demagogise on extra bank profits'

On the issue of banks' extra profits and a possible voluntary contribution by credit institutions, 'let's not engage in demagogy'. These are the words of the president of the ABI, Antonio Patuelli, speaking at the Fattore R conference in Cesena. 'Article 53 of the Constitution,' he observes, 'specifies that everyone is required to contribute to public spending according to their ability to contribute, with criteria of progressivity. The banking system and its shareholders pay a total of 55%, because we have to consider that we are subject to double taxation, first on the company and then on its shareholders, so let's not be demagogic'.

Regarding the relationship between banks and the territory Patuelli emphasises that 'there is more loan supply from banks than demand. This is for businesses. While for families there has been a strong demand for mortgages for 7 months. Only in the last two months have businesses, a national figure, also increased their demand for loans. But this is not surprising, with the uncertainties caused by tariffs and the possible outlets for imports. Businesses,' Patuelli concludes, 'must therefore be helped, especially on the tax burden side, thus incentivising them to invest.

As far as international trade is concerned, 'we are not yet seeing the effects of the new tariffs,' Patuelli emphasised. 'Until they were implemented, there was even an increase in exports to the United States. The bottom line is that Europe, and Italy in particular, are working to create new trade outlets to cushion the risk of tariffs. It will succeed, but it will take time and therefore the risk of crisis and recession can never be excluded or underestimated'.

During a meeting promoted by the Cse Consorzio servizi bancari (banking services consortium), on the subject of the politicians' request to banks and insurance companies for an extraordinary contribution, Patuelli said that in the past 'we have been invited to a confrontation and respectful of the institutions we went there and made a two-year agreement of liquidity advance with tax credit deferral. We are open to discussion if anyone calls us and we are open to the deepening of the two-year agreement and its continuation'.