December 20, 2019 / 6:12 PM / a month ago

Italy Treasury injects €1 billion in bad loan manager AMCO

MILAN (Reuters) - Italy’s Treasury has injected 1 billion euros ($1.1 billion) into bad loan manager AMCO through a capital hike, increasing the firepower of the state-owned company to 1.8 billion euros, AMCO said on Friday.

AMCO, which is fully owned by the Treasury, completed the acquisition of a portfolio of soured loans with a gross book value of 2.8 billion euros from Italian lender Banca Carige (CRGI.MI).

Reporting by Francesca Landini

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