Rome

Four banks to repay 190 mn euros - Padoan (2)

When all procedures completed

Four banks to repay 190 mn euros - Padoan (2)

Rome, January 12 - Retail bondholders in four rescued banks - Banca Etruria, Banca Marche, CariFe and CariChieti - will be automatically reimbursed "about an estimated 190 million" when all procedures have been completed, Economy Minister Pier Carlo Padoan said Thursday. The government is set to compensate many holders of junior bonds who were jipped because they were not informed of the risks attached to the financial instruments.

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