Banca Marche says placed under special administration after H1 loss
MILAN Aug 30 (Reuters) - Small Italian lender Banca Marche said on Friday it had been placed under special administration by the Bank of Italy after reporting a net loss of 232 million euros in the first half due to big writedowns on its loan portfolio.
The unlisted 312-branch lender said in a statement the central bank had temporarily suspended its board of directors and internal auditors from their functions and appointed two special administrators, who took office on Friday.
"The measure was taken also in view of the first-half results," the bank, in which Italy's biggest retail lender Intesa Sanpaolo has a 5.8 percent stake, said in a statement. (Reporting by Silvia Aloisi)
- U.S. war veteran released by North Korea returns home |
- South Korea expands air defense zone to partially overlap China's |
- Dynasty's Congress party punished in Indian state elections
- South Korea to make announcement on air zone; expansion is anticipated |
- Pennsylvania newlyweds "just wanted to murder someone together:" police