Italy’s biggest bank UniCredit (CRDI.MI) said on Monday its end-2016 capital ratios will not meet requirements set by the European Central Bank as it prepares to launch a 13-billion euro (11 billion pounds) rights issue to boost its financial strength.
MILAN Italy’s biggest bank UniCredit (CRDI.MI) said on Monday its end-2016 capital ratios will not meet requirements set by the European Central Bank as it prepares to launch a 13-billion euro (11 billion pounds) rights issue to boost its financial strength.
In a preliminary document for the fund raising the bank said the decline in its capital ratios was due to 12.2 billion euros of one-off charges it plans to book in the fourth quarter to increase its coverage of problematic loans.
(Reporting by Silvia Aloisi- editing by Francesca Landini)
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