Credem plans to tap new longer-term ECB funds for around 700 mln eur

MILAN Fri Aug 8, 2014 5:34am EDT

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MILAN Aug 8 (Reuters) - Italian mid-sized lender Credito Emiliano expects to request around 700 million euros in new longer-term funds the European Central Bank will provide euro zone lenders starting from September in a bid to spur funding to companies.

"From our calculations we think we can ask for around 700 million euros and this is the figure we're thinking of requesting," Credem's Managing Director Adolfo Bizzocchi told analysts during a conference call. (Reporting by Gianluca Semeraro; editing by Oleg Vukmanovic)

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