Italian specialist lender BFF Bank (BFF.MI) warned on Sunday that findings from an ongoing inspection by the Bank of Italy could result in additional past-due credit exposure of up to 1.3 billion euros ($1.5 billion) after issues were identified in its factoring and lending business.
The central bank has appointed Raffaele Lener and Francesco Fioretto as commissioners to provide temporary support for BFF's board under Italy's banking law.
Reuters reported in February that Milan prosecutors opened an investigation into alleged false accounting at BFF Bank, citing sources.
($1 = 0.8690 euros)
