MILAN (Reuters) - Italian regional bank Popolare di Bari said on Friday its capital reserves had fallen below minimum regulatory requirements after writedowns led to a 2018 net loss of 372 million euros ($418 million).
Popolare di Bari, the largest bank in Italy’s underdeveloped south, has long been seen as a potential headache for the Rome government, which already faces the risk of a state bailout of rival Carige after U.S. asset manager BlackRock pulled out of a rescue plan for the Genoa-based lender.
Popolare di Bari said it had booked written down assets for 382 million euros last year, pushing its core capital ratio down to 7.86% compared with an 8.83% requirement set by the Bank of Italy.
As part of measures it will submit to the regulator to seek to beef up its capital reserves, Popolare di Bari said it had approved the sale of a portfolio of energy sector loans to Glennmont Partners and would also sell the risk on a home mortgage portfolio to Christofferson, Robb & Co.
Reporting by Valentina Za, editing by Silvia Aloisi