March 20, 2014 / 7:00 PM / in 4 years

Unipol Banca to launch 100 million euro capital increase: Unipol CEO

MILAN (Reuters) - Unipol Banca, part of insurer Unipol (UNPI.MI), plans to carry out a capital increase for 100 million euros ($138 million), Unipol Chief Executive Officer Carlo Cimbri said on Thursday.

    In a conference call, Cimbri said the cash call was aimed at raising the lender’s Core Tier 1 ratio, a measure of financial strength, close to 8.5 percent in 2014.

    ($1 = 0.7255 Euros)

    Reporting by Andrea Mandala, writing by Agnieszka Flak; editing by Silvia Aloisi

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