Mediobanca CEO confirms core capital target "well above" 10 pct

MILAN Thu May 8, 2014 12:01pm EDT

MILAN May 8 (Reuters) - Mediobanca confirmed a core capital target at the end of the current fiscal year "well above" 10 percent, Chief Executive Alberto Nagel told analysts on Thursday.

He said there could be a slight improvement depending on the bank's performance in the fourth fiscal quarter.

The investment bank, one of 15 Italian lenders under scrutiny in a Europe-wide review of banking assets, did not give an update on its capital ratios for its third fiscal quarter as it said it was awaiting clarification from the European Banking Authority on how they should be calculated.

The bank had a Core Tier 1 of 11.9 percent at the end of December and said in February it targeted a Basel-III compliant Core Tier 1 above 10 percent in June 2014, rising above 11 percent in 2015 and 2016.

(Reporting by Paola Arosio)

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