April 12, 2017 / 1:25 PM / in 3 months

Italy's Carim says private equity firm eyeing controlling stake

1 Min Read

MILAN, April 12 (Reuters) - Italy's Cassa di Risparmio di Rimini (Carim) said on Wednesday its board had granted access to its books to a private equity firm that offered to buy a controlling stake in the regional bank as it seeks to fill a capital gap.

Banca Carim, one of several Italian banks grappling with the fallout of a harsh recession in the country, said its capital ratios were below the requirements demanded by the Bank of Italy.

The bank's core capital ratio stood at 6.91 percent at end-2016, below a minimum 7.80 percent threshold.

"The board has examined a (non binding) offer ... by a private equity fund willing to inject capital in exchange for control of the bank ... and has decided to grant a due diligence phase," it said.

Banca Carim said it had also been in touch with a bank deposit guarantee fund - which can use voluntary contributions from lenders for bank rescues - over a possible capital injection. (Reporting by Valentina Za, editing by Giulia Segreti)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below