Italy's Popolare Vicenza says core capital ratio 10.67 pct after cash call

MILAN Fri Aug 29, 2014 1:57pm EDT

Related Topics

MILAN Aug 29 (Reuters) - Unlisted Italian lender Banca Popolare di Vicenza said on Friday a recently completed 608-million euro cash call had boosted its core capital ratio to 10.67 percent as it posted a 22-million euro net profit for the first half of the year.

In a statement, the mid-tier lender said the so-called Common Equity Tier 1 ratio, a key measure of financial strength, would further rise to 12.6 percent once a convertible bond is reimbursed with shares and a 300-million capital increase aimed at new shareholders is completed.

The bank, one of 15 Italian lenders under scrutiny from the European Central Bank in a pan-European health check, said it had paid back in the month of August 2 billion euros of cheap loans taken from the ECB at the height of the euro zone debt crisis.

(Reporting by Silvia Aloisi)

FILED UNDER: