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Carige director general says cap hike to be small
March 20, 2013 / 12:07 PM / 5 years ago

Carige director general says cap hike to be small

MILAN, March 20 (Reuters) - Banca Carige will only need to raise a small amount of money with a rights issue as proceeds from assets sales will fill nearly all of the bank’s 800-million euro capital shortfall, the Italian lender’s director general said on Wednesday.

“We think that (with the asset sales) we can reasonable get very close to 800 million euros,” Ennio La Monica told analysts, adding the capital hike would be “very marginal”.

The bank’s chairman, Giovanni Berneschi, had earlier said the capital hike would total 400 million euros but he later said in an emailed statement he hoped the capital hike would be as small as possible.

The capital strengthening measures need to take effect by March 31, 2014, La Monica said, adding however the group hoped to carry out the asset sales in the second half of this year. (Reporting By Andrea Mandala, editing by Silvia Aloisi)

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