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Banco Popolare 9-month net loss 54 mln euros
November 13, 2012 / 5:36 PM / in 5 years

Banco Popolare 9-month net loss 54 mln euros

MILAN, Nov 13 (Reuters) - Banco Popolare, Italy’s fourth-largest bank, said on Tuesday its nine-month net loss was 54 million euros after its so-called fair value option (or issues related to debt revaluation).

Not including a loss due to the fair value option of 220 million euros, its net consolidated profit was 166 million euros.

The lender said its Core Tier 1 ratio, a key measure of financial strength, stood at 9.8 percent at end-September, including the extraordinary capital buffer required by the European Banking Authority.

The bank said it posted a 116.3 million loss from associate Agos Ducato. (Reporting by Jennifer Clark)

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