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Banco Popolare sees 2012 net loss of 330 mln euros
MILAN, March 4 |
MILAN, March 4 (Reuters) - Italian cooperative lender Banco Popolare said on Monday there could be a difference between the market's consensus estimate for 2012 results and its own forecasts.
In a statement, the bank said that on the basis of internal estimates it expected to post a net loss for last year of around 330 million euros ($429.31 million).
Banco Popolare said the difference with the consensus forecast was due to the amount of losses at its subsidiary Agos-Ducato and an increase in the cost of credit in the fourth quarter.
The bank confirmed its expectations for a Core Tier 1 ratio above the minimum target set by the European Banking Association. ($1 = 0.7687 euros) (Reporting By Stephen Jewkes; editing by Naomi O'Leary)
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