MILAN, May 30 (Reuters) - Italian cooperative lender Banco Popolare said on Thursday that a buyback on securities issued by the bank would boost its Core Tier 1 capital ratio by 7 basis points.
On Monday the bank said it had acquired Tier 1 and Tier 2 securities worth a nominal 425.9 million euros following a buyback offer.
The bank said that following the transaction, its pro-forma Core Tier 1 stood at 10.07 percent.
The buyback will also have a positive impact on its net profits of 30 million euros, it said. (Reporting By Stephen Jewkes, editing by Jennifer Clark)