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

CRGI.MI on Milan Stock Exchange

21 Jul 2017
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Latest Key Developments (Source: Significant Developments)

Italy's Banca Carige sells bad loans worth 938 mln euros
Thursday, 6 Jul 2017 02:20am EDT 

July 6 (Reuters) - Italy's Banca Carige says: :sold bad loans worth 938.3 million euros to Brisca Securitisation vehicle on June 16.Brisca Securitisation issued on Thursday NPL backed securities for 307.7 million euros.Securities include 267.4 mln euros in senior tranche rated BBB (high) investment grade by DBRS and A3 investment grade by Moody's; 30.5 mln euros in mezzanine tranche rated B (low) by DBRS and rated B3 by Moody's and 11.8 mln euros in junior tranche with no rating .lender has fully subscribed the issue by Brisca Securitisation and will place junior and mezzanine tranches on market for total value of 309.7 mln euros.  Full Article

Italy's Banca Carige shares up as much as 6 pct after approving 500 mln euro cash call
Tuesday, 4 Jul 2017 03:13am EDT 

July 4 (Reuters) - Banca Carige::Shares up 4.4 pct at 0710 GMT after rising as much as 5.9 percent in early market trade.the lender approved a series of measures aimed at rebuilding its balance sheet on Monday, including a cash call of up to 500 million euros ($568 million) and a 1.2 billion euro sale of bad loans. nL8N1JU4RZ.  Full Article

Italy's Atlante fund buys 343 mln euros of bad loans from Cariferrara
Tuesday, 20 Jun 2017 11:33am EDT 

June 20 (Reuters) - Quaestio, manager of Italy's bank rescue funds Atlante and Atlante II says: :signs deal on behalf of Atlante II fund to buy 343 million euros of soured debts from local lender Cariferrara.average price of loan purchase equal to 19 percent of gross book value.portfolio made of non-performing loans and unlikely to pay loans.  Full Article

Carige shares rise after transfer of 938 mln euro in bad loans to vehicle
Monday, 19 Jun 2017 02:53am EDT 

June 19 (Reuters) - Banca Carige: :Shares rise 6.5 percent in early trade.On Friday, the bank said it had transferred 938 million euros in bad loans to a securitisation vehicle that would sell them repackaged as securities.  Full Article

Banca Carige to sell 938 mln euros of bad loans through securitisation
Friday, 16 Jun 2017 02:19pm EDT 

June 16 (Reuters) - Banca Carige says::has transferred gross bad loans worth 938 million euros ($1.05 billion) to a vehicle that will wrap them in asset backed securities and sell them to investors.it will tap a state guarantee scheme dubbed GACS to carry out the securitisation.the move is part of the bank's strategic plan requested by the European Central Bank last December.  Full Article

Shares in Banca Carige extend losses after board members resignation
Tuesday, 13 Jun 2017 03:12am EDT 

June 13 (Reuters) - Banca Carige: :shares in regional bank fall 3.6 percent in early trade, extending Monday's losses, after the board on Friday voted in favour of ousting the bank's CEO.three board members stepped down, the bank said on Monday.  Full Article

Three board members of Italy's Banca Carige step down
Monday, 12 Jun 2017 01:21pm EDT 

June 12 (Reuters) - Italy's regional lender Banca Carige says: :three board members - Claudio Calabi, Alberto Mocchi and Maurizia Squinzi- step down, with immediate effect.board members have resigned due to disagreement over no-confidence vote against Chief Executive Guido Bastianini.  Full Article

Carige shares down 1.5 pct after no-confidence vote against CEO
Monday, 12 Jun 2017 03:00am EDT 

June 12 (Reuters) - Banca Carige: :Shares down 1.5 percent in early trade following 2.6 percent drop in previous week.The bank's board on Friday backed a no-confidence motion against CEO Guido Bastianini put forward by top investor Vittorio Malacalza nL8N1J657R.The governance shake up comes ahead of a planned 450 million euro share issue and a bad loan spin-off the bank must carry out to comply with demands from European supervisors..  Full Article

Carige board votes to remove CEO's mandate, to push ahead with restructuring
Friday, 9 Jun 2017 02:12pm EDT 

June 9 (Reuters) - Banca Carige says::majority of board members voted for removing CEO Bastianini's mandate.board to set in motion without delay the process of "defining a new governance layout".confirms willingness to proceed with bank's restructuring plan.  Full Article

Italy's Banca Carige approves 940 mln euro bad loan sale, top investor criticises CEO
Tuesday, 30 May 2017 04:56pm EDT 

May 30 (Reuters) - Italy's Banca Carige says: :Its board unanimously approves sale of 940 million euro bad loan portfolio with use of GACS state guarantee on senior tranche.Will dispose of mezzanine and junior tranches in bad loan securitisation.Top investor and deputy chairman Vittorio Malacalza wrote to the lender's board and auditors criticising the actions of the bank's chief executive and chief financial officer .Malacalza wrote that he does not agree with the current direction of the CEO's management and that he intends to step down from his position if the bank's board does not share his views with regards to both the CEO and the CFO .Bank will discuss matter on June 9.Its lawyers reject claims by former managers, Apollo Global Management and insurance units Amissimia Vita and Amissima Assicurazioni, for at least 291.7 million euros as part of pending lawsuit started in June last year .  Full Article