© Reuters. CBANCA CARIGE: ACHIEVE A MINIMUM THRESHOLD OF CAPITAL OR MERGE
MILAN (Reuters) – Banca Carige announced on Sunday that the european central Bank had left it until the end of the year to reach a minimum level of own funds at least to engage in a process of fusion.
The Italian bank said that the ECB had rejected its latest draft of the capital and had required new measures, by 30 November in order to reach this capital threshold by 30 December.
The ECB could push that time limit “if a merger was underway to ensure that the capital requirements are met in a sustainable manner”, said the bank, citing a letter from the ECB received on Friday.
The ratio of own funds of Carige is 12.2%, lower than the threshold of 13.1% imposed by the ECB.
Banca Carige has announced this month the resignation of Francesca Balzani, a member of its board of directors, due to “differences of opinion on the governance of the bank”.
It was the third head of the bank to resign in less than 10 days after the president Guiseppe Tesoro and Stefano Lunardi, an independent director.
(Valentina Za; Wilfrid Exbrayat for the French service)