Milan

Carige sells 1.2 bn euros of bad loans (2)

Bank to get 265.7 million euros from operation

Carige sells 1.2 bn euros of bad loans (2)

Milan, December 6 - Italy's Banca Carige said Wednesday that it has sold a package of bad loans with a gross value of 1.2 billion euros to Credito Fondiario. The lender said it would get 265.7 million euros from the operation, around 22% of the nominal gross value of loans - better than what had been forecast in its industrial plan up to 2020.

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