Carige brings fresh turnaround plan in bid to attract a partner

Banca Carige, the struggling Italian lender, said this week that it was looking for €630m of new equity capital to carry out an ambitious plan to bring its non-performing exposure (NPE) ratio down to 6%-7% from 22%. The institution is also hoping to overhaul its funding sources, faced with replacing €5.5bn of financing from the Italian government and the European Central Bank.