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Italian finance police search Popolare di Bari's offices

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Italian finance police search Popolare di Bari's offices

Italian prosecutors said Dec. 15 that the country's finance police searched the offices of Banca Popolare di Bari SCpA as part of an investigation into suspected obstruction of regulators, Reuters reported the same day.

The bank is yet to implement the changes mandated by the country's cooperative bank reform plan, which requires the 10 biggest popolari banks in Italy to be converted into joint stock companies by the end of 2016, the report noted.

In a statement, the prosecutors said the inquiry "aims to shed light on possible irregularities at the bank in recent years," Reuters noted.