November 17, 2017 / 2:28 PM / a year ago

Italy's Carige CEO confident lender will be able to launch cash call - media

MILAN, Nov 17 (Reuters) - The Chief Executive of Banca Carige is confident that the Italian lender will overcome all hurdles and launch a vital cash call, he said in a letter sent to staff, according to news agency Ansa.

In the letter CEO Paolo Fiorentino says there were encouraging signals for the capital increase to take place, adding “(the bank) will make it”.

Banca Carige is racing to salvage a 560 million euro ($660.5 million) share issue after it failed to secure backing from underwriters, sending fresh tremors through the country’s banking sector. ($1 = 0.8477 euros) (Reporting by Valentina Za; writing by Francesca Landini)

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