April 15, 2014 / 7:21 AM / 4 years ago

Italy's Monte dei Paschi says assessing capital needs

MILAN, April 15 (Reuters) - Monte dei Paschi di Siena said on Tuesday it was assessing how much capital it needed to pay back this year state aid as agreed with European authorities, also taking into account the impact of the European Central Bank’s asset-quality review.

Shares in the Tuscan bank initially failed to start trading on Tuesday following reports Monte Paschi may raise the size of planned capital increase to 5 billion euros from 3 billion euros. They fell as much as 9.6 percent when they opened and were quickly suspended from trading.

The bank said in a statement that it had held discussions with the Bank of Italy after the ECB published details on how it would conduct its review of euro zone lenders this year.

“The bank is assessing the implications in relation to the amount of funds necessary to pay back this year state-aid as pledged with the European Commission,” it said. (Reporting by Valentina Za; Editing by Lisa Jucca)

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