ECB blocks Pop Sondrio's Cento acquisition, says bad loans a priority

MILAN (Reuters) - Popolare di Sondrio said the European Central Bank had blocked its acquisition of a smaller rival and told the regional Italian bank to clean up its balance sheet first.As of June 30, impaired loans at Popolare di Sondrio accounted for 13.7% of overall loans. That compares with an average of 9% for Italian banks, which have managed to halve their soured loan ratio from a peak of 18% in 2015. Popolare di Sondrio said in August it would sell 1 billion euros' worth of bad..