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Italy's Banca Carige posts H1 net loss on writedowns, restructuring
August 1, 2014 / 9:18 PM / 3 years ago

Italy's Banca Carige posts H1 net loss on writedowns, restructuring

MILAN, Aug 1 (Reuters) - Italy’s Banca Carige posted a first-half net loss of 45.5 million euros ($61 million) due to writedowns on its insurance units, higher taxes and costs to close down branches as part of its restructuring plan.

Carige’s loss was much smaller the 595 million euros it reported in the first half of last year due to a massive goodwill writedown on two banking units. ($1 = 0.7449 Euros) (Reporting by Valentina Za; Editing by Robin Pomeroy)

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