Edition:
United States

Banca Carige SpA Cassa di Risparmio di Genova e Imperia (CRGI.MI)

CRGI.MI on Milan Stock Exchange

0.25EUR
26 May 2017
Change (% chg)

€-0.00 (-0.86%)
Prev Close
€0.26
Open
€0.26
Day's High
€0.26
Day's Low
€0.25
Volume
3,056,840
Avg. Vol
6,520,855
52-wk High
€0.56
52-wk Low
€0.21

Latest Key Developments (Source: Significant Developments)

Carige posts 2016 loss of 297 mln euros hit by loan losses
Friday, 10 Feb 2017 11:44am EST 

Banca Carige says: Phased-in CET1 ratio 11.3 percent at end-2016 versus 12.3 percent at end-Sept . Has set aside 470 mln euros in cash against loan losses, up from 319 mln euros in 2015 due in part to impact of ECB's inspection in H1 . Net loss 297 million euros . Problem loan coverage ratio 45 percent at end-2016 (46 percent end-Sept), bad loan coverage ratio 63 percent (61 percent end-Sept) . Direct funding from clients 15.8 billion at end-2016 from 18.1 billion end-2015 . Liquidity coverage ratio 124 percent end-2016, above SREP's requirement of 90 percent .Booked 70 million euro gross charge which includes various contributions to rescue funds and 5.4 million euro devaluation of Atlante stake.  Full Article

Banca Carige CEO says loan writedowns largely sufficient
Friday, 5 Aug 2016 09:57am EDT 

Banca Carige Chief Executive Guido Bastianini tells analyst call: Believes loan writedowns carried out so far are largely sufficient, including on unlikely-to-pay loans . Problem loan coverage ratio in H1 came in slightly below 47 percent target set in business plan only because a couple of positions were reclassified . Will continue to work on possible request to adopt internal risk models but too early to indicate possible timeframe Further company coverage: [CRGI.MI] (Reporting by Milan Newsroom).  Full Article

Carige posts H1 net loss on higher loan loss provisions
Friday, 5 Aug 2016 08:44am EDT 

Italy's Banca Carige says: First-half net loss 206 million euros driven by loan writedowns, falling interest income and drop in net fees . Loan writedowns totalled 344.5 million euros compared with 133.3 million euros a year earlier . Coverage ratio of bad loan ('sofferenze') portfolio broadly stable at end-June at close to 61 percent. Unlikely-to-pay loans covered at 30 percent, up from 24 percent at end-December . Liquidity coverage ratio 114 percent end-June . Started in July process to sell tranche of bad loan portfolio . Transitional CET1 ratio 12.2 percent at end-June from 12.3 percent at end-March Further company coverage: [CRGI.MI] (Reporting by Milan Newsroom).  Full Article

Carige CEO says H1 loan writedowns requested by ECB
Friday, 5 Aug 2016 08:30am EDT 

Banca Carige Chief Executive Guido Bastianini tells analyst call: H1 loan writedowns of 345 million euros were requested by supervisor after recently concluded inspection on 6 billion euro loan portfolio . ECB examined 4.2 billion euros of problem loans and 1.8 billion euro of lower-quality performing loans . Inspection highlighted need for further writedowns which totalled 100 million euros for bad loans ('sofferenze') and 205 million euros for unlikely-to-pay loans Further company coverage: [CRGI.MI] (Reporting by Milan Newsroom).  Full Article

Banca Carige, Monte dei Paschi jump as market bets on bad debt solution
Wednesday, 13 Jul 2016 07:21am EDT 

Banca Carige: shares in the bank rise 11.8 percent to 0.387 euros by 1105 GMT after touching a daily high of 0.390 euros . the Genoa-based lender is the top-performer among Italian banks, with Monte dei Paschi following with a 11-percent rise . the market is betting on a possible solution to manage Italian lenders' large bad debt problem . Monte dei Paschi di Siena and Banca Carige emerged as the two weakest banks in a health check of euro zone lenders at the end of 2014 Further company coverage: [CRGI.MI] (Reporting by Milan newsroom).  Full Article

Banca Carige shares suspended after 6 pct fall
Tuesday, 5 Jul 2016 10:05am EDT 

Banca Carige: shares in the Italian lender are suspended from trading after 6 percent fall . Italy's banking index <.FTIT8300> is down 0.6 percent Further company coverage: [CRGI.MI] (Reporting by Milan newsroom).  Full Article

Carige aims to sell 800-900 mln euros of bad loans by year-end
Thursday, 30 Jun 2016 05:28am EDT 

Banca Carige CEO Guido Bastianini says: lender aims to sell bad loans worth 800-900 million euros by year-end, hopes Atlante fund can get involved . bank has not had liquidity problems in recent months Further company coverage: [CRGI.MI] (Reporting by Milan newsroom).  Full Article

Carige approves guidelines for 2016-2019 business plan
Monday, 30 May 2016 01:57pm EDT 

Banca Carige says: board has approved guidelines for 2016-2019 business plan . they will be sent to European Central Bank and will be developed in the bank's new Business Plan by June 30 .Updating of bank's 2016 funding plan also approved.  Full Article

Italy's Carige denies press report of 400 mln euros cap increase
Saturday, 28 May 2016 02:56pm EDT 

Banca Carige Spa says: press report in La Repubblica daily of bank planning a possible capital increase for up to 400 mln euros is groundless . says guidelines of industrial plan to be submitted to bank's board for approval on May 30 does not include possibility of a capital increase . such an option is not being examined Further company coverage: [CRGI.MI] (Reporting by Milan newsroom).  Full Article

Banca Carige SpA Cassa Di Risparmio Di Genova e Imperia sells all unexercised rights in cash call- Reuters
Sunday, 28 Jun 2015 08:00pm EDT 

Banca Carige SpA Cassa Di Risparmio Di Genova e Imperia:All unexercised rights to buy into share sale sold on first day - Reuters.Bank's 850 million euro rights issue was 99.83 percent subscribed.  Full Article

More From Around the Web