MILAN Feb 9 Italy's biggest bank by assets
UniCredit said on Thursday it had booked a net loss of
13.6 billion euros ($14.5 billion) in the fourth quarter due to
a major clean-up of its balance sheet.
The bank, which this week kicked off a 13 billion euro share
sale to bolster its capital base, set aside nearly 10 billion
euros in the period to cover for losses on its loan book.
UniCredit said its CET 1 ratio, a key measure of financial
strength, fell to 8.15 percent at the end of last year due to
the writedowns - below a 10 percent requirement set by the
European central Bank. But the ratio will recover and rise to
11.15 percent on a fully-loaded basis once the capital increase
is completed, it said.
($1 = 0.9363 euros)
(Reporting by Silvia Aloisi, editing by Valentina Za)