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Monte Paschi has already repaid 1 billion euros of ECB long-term loans

The entrance of Monte Dei Paschi bank headquarters is pictured in Siena January 24, 2013. REUTERS/Stefano Rellandini

MILAN (Reuters) - Italian lender Banca Monte dei Paschi di Siena (MIL:BMPS) has already paid one billion euros (844.87 million pounds) of cheap three-year loans (LTRO) given by the European Central Bank, the bank's CFO said on Monday.

"We have already started to repay the LTRO," Bernardo Mingrone said in a conference call on the bank's guidelines for its new 2013-2017 business plan.

Monte Paschi received 29 billion euros of LTRO money from the ECB.

(Reporting by Lisa Jucca, editing by Stephen Jewkes)