Reuters logo
Banco Popolare buyback to boost Core Tier 1 by 7 bps
May 30, 2013 / 3:58 PM / 4 years ago

Banco Popolare buyback to boost Core Tier 1 by 7 bps

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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below