Pop Milano paid back further 500 mln euros of LTRO-source

MILAN Wed Feb 26, 2014 11:48am EST

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MILAN Feb 26 (Reuters) - Italian cooperative lender Banca Popolare di Milano has reimbursed another 500 million euros ($683.35 million) of cheap funds it borrowed from the European Central Bank in 2011 and 2012, a source close to the lender said on Wednesday.

The bank, which had taken a total of 6.1 billion euros in ECB funds, still has around 4 billion euros to reimburse. ($1 = 0.7317 euros) (Reporting by Andrea Mandala, writing by Silvia Aloisi)