Popolare Vicenza says H1 net loss 795 mln euros

September 5, 2016 3:36 PM

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VICENZA, Italy Sept 5 Italian regional lender Popolare di Vicenza, which earlier this year was rescued by a bank bailout fund, posted a loss of 795 million euros in the first half of the year as it set aside more money to cover bad loans and possible lawsuits by customers.

The bank said the loss was also due, for more than 300 million euros, to the decision by shareholder Cattolica Assicurazioni to exit a joint-venture after Popolare di Vicenza's transformation into a joint stock company.

Also read: ECB sets Banco Popular's 2017 capital level at 7.875 percent

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