Banco Popolare, BPM look to slim bad loans for merger clearance -sources

February 25, 2016 6:56 PM

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MILAN Feb 25 Banca Popolare and Banca Popolare di Milano are working on a plan to slim down bad loans to get clearance for their planned merger from the European Central Bank without a capital increase, sources said on Thursday.

"The proposal being looked at is a gradual reduction of bad loans that the ECB will have to assess or request changes to," one of the sources said.

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