MILAN Dec 29 Italian bank bailout fund Atlante
has presented an offer for two-thirds of the 3.7 billion euros
($3.87 billion) of gross problematic loans of three of the small
banks that were rescued from bankruptcy last year, two sources
close to the matter said.
The move should help facilitate the sale of the banks -
Banca Etruria, Banca Marche and CariChieti - to bigger rival and
Italy's fifth-largest lender UBI.
"Atlante today presented an offer for the non-performing
loans of the three good banks," one of the sources said.
In November 2015, Italy rescued the three small lenders and a
fourth one, CariFerrara, from bankruptcy, writing off the value
of junior bonds and shares in the banks.
Italy has struggled to sell the four small banks despite the
fact that their worst kind of non-performing loans were spun off
in the rescue. Since then however the banks have been forced to
class more problem loans as defaulting.
(Reporting by Maria Pia Quaglia, writing by Agnieszka Flak)