Reuters logo
ECB sets Banco Popular's 2017 capital level at 7.875 percent
November 30, 2016 / 4:40 PM / a year ago

ECB sets Banco Popular's 2017 capital level at 7.875 percent

MADRID (Reuters) - Spain’s Banco Popular said on Wednesday the European Central Bank (ECB) had set it a capital requirement under the strictest criteria - its fully-loaded capital ratio - of 7.875 percent for 2017.

Analysts expect the bank to finish the year with a full-loaded capital ratio of around 10.5 percent.

Popular is under pressure as several shareholders have called for the bank’s chairman, Angel Ron, to stand down due to discontent over his plan to spin off billions of euros of toxic property assets.

Since June, when Popular raised 2.5 billion euros ($2.6 billion) via a share issue to clean up its portfolio, its shares have fallen around 55 percent. It has said could post losses of up to 2 billion euros for 2016.

Reporting by Angus Berwick; Editing by Sonya Dowsett

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below