January 3, 2019 / 10:05 AM / 6 months ago

ECB move on Carige shows trust in ongoing restructuring: administrator

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

MILAN (Reuters) - The move by the European Central Bank to place Italy’s Banca Carige (CRGI.MI) under special administration reflects its trust in the lender and in the restructuring process already under way, one of the administrators said on Thursday.

“I hope to be able to help in a speedy resolution of the bank’s problems,” Raffaele Lener said in a video message posted by news agency Agenzia Vista.

On Wednesday the ECB picked three temporary administrators to take charge of Carige in an unprecedented effort to save the struggling lender after it failed to raise new capital.

Reporting by Stephen Jewkes; editing by Agnieszka Flak

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