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Italy's Popolare Vicenza says core capital ratio 10.67 pct after cash call
August 29, 2014 / 6:01 PM / in 3 years

Italy's Popolare Vicenza says core capital ratio 10.67 pct after cash call

MILAN, Aug 29 (Reuters) - Unlisted Italian lender Banca Popolare di Vicenza said on Friday a recently completed 608-million euro cash call had boosted its core capital ratio to 10.67 percent as it posted a 22-million euro net profit for the first half of the year.

In a statement, the mid-tier lender said the so-called Common Equity Tier 1 ratio, a key measure of financial strength, would further rise to 12.6 percent once a convertible bond is reimbursed with shares and a 300-million capital increase aimed at new shareholders is completed.

The bank, one of 15 Italian lenders under scrutiny from the European Central Bank in a pan-European health check, said it had paid back in the month of August 2 billion euros of cheap loans taken from the ECB at the height of the euro zone debt crisis.

Reporting by Silvia Aloisi

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