Italian rescue plan for Carige sees cash call of up to 800 million euros: source

FILE PHOTO: The Carige bank logo is seen in Rome
FILE PHOTO: The Carige bank logo is seen in Rome, Italy, April 16, 2016. REUTERS/Stefano Rellandini/File Photo

June 25, 2019

ROME (Reuters) – Italian banks’s rescue plan for ailing lender Carige envisages a larger than planned cash call of up to 800 million euros ($911 million), a source close to the matter said on Tuesday.

The Genoa-based lender, which was placed under special administration by the European Central Bank in January, had been thought to have a capital shortfall of 630 million euros.

(Reporting by Stefano Bernabei, Writing by Giselda Vagnoni; Editing by Louise Heavens)

Free America Network Articles

Leave a Comment