"This is an isolated episode," said Intesa Sanpaolo supervisory board chairman Giovanni Bazoli on the sidelines of an event.

"The bank has completely new management and the situation can in no way be generalized.

The Italian banking system is healthy."

On Wednesday the Tuscan lender said it was reviewing three more loss-making structured trades related to its lending which only recently came to light and were negotiated by its previous management, sending shares tumbling.