June 4, 2019 / 1:43 PM / 4 months ago

BPER Banca not interested in Carige as things stand: source

FILE PHOTO: The logo of Carige bank is seen in Rome, Italy, April 9 2016. REUTERS/Alessandro Bianchi/File Photo

MILAN (Reuters) - BPER Banca believes conditions are not in place for it to take over troubled rival Carige, a source at Italy’s sixth-largest bank said on Tuesday.

An Italian daily reported that BPER had been considering a possible rescue of Genoa-based Carige, which is racing against the clock to find a buyer to stave off the risk of being liquidated.

The source said that based on information currently available, conditions were not in place to consider a tie-up.

The source added BPER would only pursue mergers which allowed it to meet goals set under its recent business plan, with a view to preserving healthy capital ratios and speeding up a bad loan reduction plan.

Reporting by Valentina Za, editing by Silvia Aloisi

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