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Italy's Carige approves 500 mln euro cash call, 200 mln euro asset sales - source
July 3, 2017 / 4:12 PM / 5 months ago

Italy's Carige approves 500 mln euro cash call, 200 mln euro asset sales - source

MILAN, July 3 (Reuters) - Italian regional lender Banca Carige has approved a capital increase of 500 million euros ($568.25 million) and asset sales of 200 million euros, a source close to the matter said on Monday.

Carige, the country’s ninth-biggest bank, approved the measures at a meeting on Monday, the source said.

Carige has been told by the European Central Bank it needs to raise capital and shed bad loans but restructuring has been delayed by a governance spat.

$1 = 0.8799 euros Reporting by Gianluca Semeraro, writing by Stephen Jewkes

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