Popolare Vicenza sees core capital at 12.5 pct after cash call

VICENZA, Italy Tue Feb 18, 2014 11:00am EST

Related Topics

VICENZA, Italy Feb 18 (Reuters) - Italian mid-tier lender Banca Popolare di Vicenza expects its core capital to reach 12.5 percent after a 1 billion euros ($1.4 billion) cash call approved on Tuesday, Managing Director Samuele Sorato said.

The bank's common equity tier 1 ratio, a measure of bank capital strength, currently stands at 9 percent.

In an statement earlier on Tuesday, the bank announced the cash call saying it would fund possible acquisitions and would also help boost its financial strength.

Chairman Gianni Zonin said peers Veneto Banca and Banca Popolare dell'Etruria were among possible targets but added his bank was currently not in talks with anyone.

($1 = 0.7298 euros) (Reporting by Andrea Mandala, writing by Silvia Aloisi)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.