September 18, 2014 / 12:29 PM / 3 years ago

Main Italian lenders took 23 billion euros of cheap ECB cheap

MILAN (Reuters) - Eleven Italian banks including top three lenders Intesa Sanpaolo (ISP.MI), UniCredit (CRDI.MI) and Monte dei Paschi di Siena (BMPS.MI) took 23.3 billion euros (18.39 billion pounds) in cheap funds from the European Central Bank on Thursday, data compiled by Reuters shows.

The amount represents about 28 percent of the 82.6 billion euros in new four-year loans the ECB handed to 225 euro zone lenders, in a bid to stave off price deflation and revive the ailing euro zone economy.

A breakdown by bank shows UniCredit took 7.75 billion euros; Intesa 4 billion euros; Monte dei Paschi 3 billion euros; Iccrea Banca 2.24 billion, on behalf of 190 small cooperative lenders; Popolare dell‘Emilia Romagna (EMII.MI) 2 billion euros;

Banco Popolare BAPO.MI and Credito Valtellinese (PCVI.MI) 1 billion euros each; Credem (EMBI.MI) 735 million euros; Carige (CRGI.MI) 700 million euros; Mediobanca (MDBI.MI) 570 million euros and Popolare Sondrio (BPSI.MI) 350 million euros.

Ubi (UBI.MI), Popolare Milano PMII.MI, Popolare Vicenza and Veneto Banca said they had not requested any ECB funds.

The 15 banks contacted by Reuters are those that are being scrutinised by the ECB as part of a health check of European lenders.

Reporting by Andrea Mandala and Elvira Pollina; editing by David Clarke

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