trending Market Intelligence /marketintelligence/en/news-insights/trending/tZokVMG8pDvwH78V4dNbyQ2 content esgSubNav
In This List

Banca Carige to seek shareholder approval for capital increase

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Banca Carige to seek shareholder approval for capital increase

Banca Carige SpA will seek shareholder approval at an extraordinary meeting on Sept. 20 for its planned capital increase, which is part of its €900 million rescue plan, Reuters reported Aug. 19.

The rescue plan includes a share capital increase of €700 million and an issuance of €200 million of new subordinated bonds, as well as a full-scale disposal of €3.1 billion of nonperforming loans.

The Italian bank's temporary administrators and a consortium of investors led by the Italian deposit protection fund recently agreed on a binding framework to help rescue the struggling lender.

The ECB cleared the rescue plan in the week of Aug. 12, the newswire cited sources as saying.