May 12, 2014 / 4:59 PM / 3 years ago

Monte Paschi says to meet LTRO reimbursement deadline

1 Min Read

The Monte dei Paschi bank headquarters is pictured in Siena August 16, 2013.Stefano Rellandini

MILAN (Reuters) - Italy's bailed-out bank Monte dei Paschi di Siena (BMPS.MI) expects to meet a February 2015 deadline to fully pay back 29 billion euros ($40 billion) in cheap loans it took from the European Central Bank, according to slides posted on its website.

The bank had paid back 5 billion euros at the end of April. Its chief financial officer, Bernardo Mingrone, said the lender would put in a request to reimburse another 2 billion euros "in the next few days".

According to the slides, the bank expects its exposure to the so-called LTRO loans to fall to 14 billion euros by end December this year.

According to the slides, the exposure will be reduced to zero by end-February 2015.

Reporting by Silvia Aloisi, editing by Danilo Masoni

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below