Reuters logo
Italy's Carige says watchdog challenging 2012, H1 2013 accounts
January 22, 2014 / 5:22 PM / 4 years ago

Italy's Carige says watchdog challenging 2012, H1 2013 accounts

MILAN, Jan 22 (Reuters) - Italy’s Banca Carige said on Wednesday market watchdog Consob was contesting a number of accounting irregularities in its financial statements for the full year of 2012 and the first half of 2013.

The mid-sized Genoa-based bank said it disagreed with Consob’s assessment and may challenge it in court.

It said it had already carried out a string of impairments in its 9-month accounts to the end of September 2013, reflecting the impact of writedowns requested by Consob.

The bank, one of a group of Italian mid-sized lenders to have come under scrutiny as their share of bad loans rose during Italy’s financial crisis, said any restatement of the results in question would not affect its asset base.

Carige needs to plug a capital shortfall of 800 million euros ($1.09 billion) by March at the bank of Italy’s request and is one of 15 Italian banks being scrutinised by the European Central Bank in a sector-wide health check up.

$1 = 0.7372 euros Reporting by Isla Binnie, editing by Silvia Aloisi

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below