Popolare Sondrio Q1 net profit nearly quadruples

MILAN Wed May 14, 2014 11:56am EDT

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MILAN May 14 (Reuters) - Italy's Banca Popolare di Sondrio said on Wednesday net profit for the first quarter had nearly quadrupled to 42 million euros ($57.6 million) from 11 million last year, helped by higher interest income, commission and fees.

The mid-tier bank is one of 15 under review by the European Central Bank in a check up of lenders across the euro zone this year.

Popolare Sondrio is carrying out a 350 million-euro rights issue to strengthen its capital base in light of the review. ($1 = 0.7294 Euros) (Reporting by Agnieszka Flak, editing by Danilo Masoni)

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