MILAN, March 4 Credito Valtellinese
became the latest Italian lender to announce a rights issue to
boost its capital, saying it planned to tap investors for up to
400 million euros ($550 million).
The mid-tier lender, one of 15 Italian banks being
scrutinised by the European Central Bank, said the cash call
would be guaranteed by Banca IMI, Credit Suisse
The bank aims to complete the capital increase in the first
half of this year.
In a statement, it said that its pro-forma common equity
tier 1 ratio - a key measure of financial strength - including
the capital increase stood at 10.9 pct, well above an 8 percent
minimum set by the ECB.
Six other Italian lenders had already announced plans to
raise capital on the market for a total of more than 7 billion
euros. ($1 = 0.7277 euros)
(Reporting by Silvia Aloisi)