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Banca Carige Q3 attributable loss widens YOY to €168.4M

Banca Carige SpA reported third-quarter net loss attributable to the parent company of €168.4 million, widening from a year-ago attributable loss of €55.5 million.

Net interest income fell year over year to €56.5 million from €59.9 million. Net fee and commission income also declined, to €56.8 million in the quarter from €59.1 million a year earlier.

The bank booked net losses on impairment of loans to banks and customers of €189.8 million in the third quarter, compared to gains on impairment reversal of €42.3 million a year earlier.

Net provisions for risks and charges totaled €2.6 million in the period, down from €5.4 million a year ago.

For the nine months to September-end, Banca Carige posted an attributable loss of €188.9 million, narrowing from the year-ago attributable loss of €210.4 million.

Return on equity was negative 9.4% in the period, compared to negative 14.8% at the end of 2017.

As of September-end, the Italian lender's phased-in common equity Tier 1 ratio was 10.8%, down from 12.4% at the end of 2017. Its liquidity coverage ratio was 133% at September-end, compared to 156% at 2017-end.