Monte Paschi says to meet LTRO reimbursement deadline
MILAN (Reuters) - Italy's bailed-out bank Monte dei Paschi di Siena expects to meet a February 2015 deadline to fully pay back 29 billion euros (23.6 billion pounds) 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)
