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Carige nine-month loss soars to 1.3 billion euros after writedowns

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(Globalpost/GlobalPost)

MILAN (Reuters) - Italy's Banca Carige <CRGI.MI> said on Monday its nine-month net loss had soared to 1.3 billion euros ($1.74 billion) including goodwill writedowns of 1.65 billion euros which it booked after market regulator Consob queried the value of some investments.

Before the goodwill writedowns, the troubled lender had a net loss of 139.1 million euros in the period.

The bank said part of the writedowns related to its stake in the Bank of Italy.

Carige, worth 1.2 billion euros on the market and considered by analysts one of Italy's weakest lenders, added it had reduced the value of its Bank of Italy stake by 667 million euros following Consob's queries.

($1 = 0.7459 euros)

(Reporting by Francesca Landini, editing by Stephen Jewkes)

http://www.globalpost.com/dispatch/news/thomson-reuters/131111/carige-nine-month-loss-soars-13-billion-euros-after-writedowns