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Italy banks need to boost capital this year-Moody's
January 16, 2009 / 2:44 PM / 9 years ago

Italy banks need to boost capital this year-Moody's

MILAN, Jan 16 (Reuters) - Italian banks will need to reinforce their capital positions in the next six to 12 months to keep their credit ratings, Moody’s Vice-President Carlo Gori said on Friday.

“There is a need, not urgently, for a gradual strengthening of equity with capital management moves to keep their ratings,” Gori, who is also senior analyst for Italian financial institutions at the credit ratings agency, said at a seminar.

He said “gradual” for Italian banks, who have a low risk profile, meant a timeline of six to 12 months.

Reporting by Valentina Za, writing by Jo Winterbottom

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