February 10, 2017 / 5:33 PM / 5 months ago

BRIEF-Italy's Banco BPM posts 1.6 bln euro 2016 loss on loan writedowns

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Feb 10 (Reuters) - Italy's newly-merged Banco BPM says:

* 2016 net loss 1.6 bln euros

* Phased-in CET1 ratio end-2016 at 12.3 percent; fully loaded 11.4 pct

* Loan writedowns in 2016 at 2.96 bln euros

* Problem loan coverage ratio 48 percent, bad loan coverage ratio 60 percent

* Wrote down contribution to banking rescue fund Atlante by a total of 59.8 million euros

* Booked goodwill impairment of 279 million euros

* Direct funding at former Banco Popolare down 2 pct year-on-year in 2016, current accounts and deposits up 15 percent y-o-y Source text for Eikon: Further company coverage: (Reporting by Milan newsroom)

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