Banca Carige SpA is looking to expedite its request to use a state guarantee scheme for the sale of about €1 billion in bad loans, Reuters reported June 12, citing CEO Paolo Fiorentino.
Fiorentino noted uncertainty over whether Italy's new government will renew the scheme, known as GACS. In addition to the planned bad loan sale, Banca Carige also plans to off-load about €100 million of loans classed as unlikely to pay, potentially in three or four tranches, he added.
