January 27, 2014 / 11:21 AM / in 4 years

Intesa CEO sees significant excess capital after asset checks

MILAN, Jan 27 (Reuters) - Italy’s largest retail bank Intesa Sanpaolo will never have a capital shortfall and will keep a significant amount of excess capital even after a health check among euro zone banks, its CEO said on Monday.

“We have a common equity of 11.5 percent, which is the highest in Europe. Therefore we will never be in any position of capital deficit,” Intesa Chief Executive Carlo Messina said on the sidelines of an event in Milan.

Messina said he did not expect the trend in write-downs to improve in the short term, although he was not particularly worried about it.

He also said the bank was not available to subscribe to any possible Telecom Italia capital increase. (Reporting by Gianluca Semeraro, writing by Danilo Masoni, editing by Francesca Landini)

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