Banca Carige sees 2016 net profit at 122 mln euros

MILAN, March 28 Fri Mar 28, 2014 4:32am EDT

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MILAN, March 28 (Reuters) - Banca Carige expects net profit to reach 122 million euros ($167.62 million) in 2016 from a deep loss last year, the Italian mid-sized lender said in slides posted on its website on Friday.

Net profit should hit 219 million euros in 2018, it added.

The Genoa-based bank, which is planning a rights issue to boost a balance sheet damaged by the longest recession in its home market since World War Two, posted a net loss of 1.76 billion euros for 2013 earlier on Friday.

Carige's shares were quoted 1.75 percent lower on the day at 0829 GMT, after erasing early gains, against an Italian all-share index 0.66 percent higher on the day. ($1 = 0.7278 Euros) (Reporting by Isla Binnie; editing by Agnieszka Flak)

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