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BREAKING NEWS

Italy's Carige is a well capitalised bank - administrator to CNBC

Italy's Carige is a well capitalised bank - administrator to CNBC
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Alessandro Bianchi(Reuters)
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MILAN (Reuters) - Italy's Banca Carige <CRGI.MI> is a well capitalised bank, special administrator Fabio Innocenzi said on Thursday in an interview with Class CNBC television.

On Wednesday the European Central Bank picked three temporary administrators to take charge of Carige to save the struggling lender after it failed to raise new capital.

In light of recent developments, Innocenzi said the bank needed to discuss with Italy's depositor protection fund (FITD) how best to use the 320 million euros (£289 million) it had given the bank via a convertible bond.

Innocenzi, till recently CEO of Carige, said the bank was in an exploratory phase as regards a merger.

(Reporting by Andrea Mandala, writing by Stephen Jewkes; editing by Agnieszka Flak)

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