MILAN, July 4 (Reuters) - Mediobanca, one of 15 Italian banks targeted by a Europe-wide asset review, said on Friday that the ratio of its best-quality capital set against risky assets - a measure of financial strength - was 10.9 percent.
This is the first time Mediobanca, Italy’s best-known investment bank, has disclosed its so-called phased-in common equity tier 1 ratio. This measures the proportion of capital set aside against equity stakes and other assets that are weighted according to their risk.
Mediobanca said the Bank of Italy had weighted its 13.24 percent stake in insurer Generali at 3.7 times its book value of 2.6 billion euros ($3.55 billion). The ratio also took into account loan repayments worth 750 million euros from insurer Unipol that have been since the end of March.
The bank has total risk-weighted assets of 58.4 billion euros, 9.6 billion euros of which is attributable to the Generali investment.
$1 = 0.7331 Euros Reporting by Lisa Jucca; Editing by Pravin Char