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BPER expressed interest in one of Italy's four rescued banks-source
January 26, 2016 / 4:11 PM / 2 years ago

BPER expressed interest in one of Italy's four rescued banks-source

MILAN, Jan 26 (Reuters) - Italy’s sixth-largest bank Banca Popolare Emilia Romagna (BPER) has submitted an expression of interest for CariFe, one of four Italian lenders that were saved from bankruptcy in November, a source close to BPER said on Tuesday.

A deadline expired on Monday for bidders to submit their expression of interests for the “healthy” assets of Banca Marche, Popolare Etruria, CariFe and CariChieti -- which were split up from the four lenders’ bad debts and put up for sale.

The running of the four small banks had been taken over by the Bank of Italy ahead of the rescue as mounting loan losses eroded their capital. They were salvaged in November drawing 3.6 billion euros from a fund financed by the country’s healthy lenders after imposing losses on shareholders and junior bondholders.

Reporting by Andrea Mandala, writing by Valentina Za, editing by Francesca Landini

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