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BRIEF-Banca Carige still waiting for ECB feedback on its plan
March 21, 2017 / 8:21 PM / 9 months ago

BRIEF-Banca Carige still waiting for ECB feedback on its plan

March 21 (Reuters) - Italy’s Banca Carige says:

* it has not yet received any feedback from European Central Bank (ECB) supervisors on its new business plan

* it received final assessment of the ECB’s on-site loan inspection on March 6

* ECB’s final assessment did not request any further loan writedowns, but noted deficiencies in the bank’s lending practices

* it must provide answers to the ECB by April 5 indicating measures undertaken to solve flaws in its lending practices

* lender still seeking to set up a consortium to guarantee share sale

* it may need third parties to invest in bank’s bad loan vehicle in order to be able to deconsolidate bad debts

* Italian market watchdog Consob has asked the bank to give an update on the implementation of the industrial plan in its quarterly financial statements, starting from March 31. Further company coverage: (Reporting by Milan newsroom)

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