MILAN, May 6 (Reuters) - Banca Popolare dell‘Emilia Romagna (BPER) became on Tuesday the latest Italian lender planning to tap investors for cash in coming months as it announced a 750 million euro ($1 billion) rights issue to strengthen its capital base.
Italy’s sixth-largest bank by branches is among 15 in the country being scrutinised by the European Central Bank this year as part of a check-up of the sector across the euro zone.
Nine of the 15 are now planning to raise nearly 11 billion euros in fresh capital.
BPER said in a statement it would seek to carry out the share sale by the end of July.
The bank said its best-quality Common Equity Tier 1 capital under Basel III rules would stand at 10.44 percent after the cash call. ($1 = 0.7177 Euros) (Reporting by Valentina Za; editing by Francesca Landini)