April 30, 2014 / 11:18 AM / 4 years ago

Banca Carige to pay "significant tranche" of ECB crisis loans soon

GENOA, Italy, April 30 (Reuters) - Italy’s Banca Carige will pay a significant tranche of European Central Bank crisis loans soon, the bank’s CEO said on Wednesday.

The lender is looking to repay 80 percent of the loans, known as LTROs, before the end of the year, Piero Montani said at a shareholders meeting.

Banca Carige borrowed a total of 7 billion euros ($9.7 billion) of cheap ECB loans which mature in January and February next year. It has already repaid about 1.5 billion euros.

“We have funds available for this important operation,” Montani said. ($1 = 0.7237 Euros) (Reporting by Andrea Mandala, editing by Stephen Jewkes)

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