May 11, 2017 / 5:42 AM / 3 months ago

BRIEF-UBI confirms 2020 profit, capital ratio forecast

May 11 (Reuters) - Unione Di Banche Italiane says:

* an extremely rapid merger plan for three bridge banks is planned, with first migration by end of October

* business plan projections for combined entity confirm net profit of around 1.12 billion euros in 2020

* sees ROTE of around 12 percent and CET 1 ratio higher than 13 percent (inclusive of 400 million million euros from UBI share capital increase) in 2020 Further company coverage: (Reporting by Milan newsroom)

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