December 27, 2017 / 6:45 AM / 7 months ago

BRIEF-Banco BPM to hike NPL sale goal by 3 bln euros after new accounting rules - CEO to paper

Dec 27 (Reuters) - Banco BPM CEO Giuseppe Castagna tells Il Sole 24 Ore in an interview:

* IFRS9 ACCOUNTING RULES ALLOW COMPANY TO RAISE BAD LOAN REDUCTION TARGET TO 11 BILLION EUROS FROM 8 BILLION EUROS WITHOUT IMPACTING ON BALANCE SHEET

* SEES NET INTEREST INCOME RISING IN Q4 OF 2017

* SEES COST SAVINGS OF MORE THAN 100 MILLION EUROS FROM HIGHER-THAN-EXPECTED VOLUNTARY LAYOFFS

* NO NEED FOR SALE OF STAKE IN AGOS DUCATO - PAPER

* EO REITERATES NET PROFIT TARGET OF 1 BILLION EUROS IN 2019, EXCLUDES NEED FOR ANOTHER CAPITAL INCREASE Further company coverage: (Reporting by Milan newsroom)

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