September 18, 2019 / 6:22 PM / 3 months ago

Italy's Carige says events after June 30 did not affect capital increase adequacy

MILANO, Sept 18 (Reuters) - Italian troubled lender Carige said on Wednesday that events after June 30 did not affect the adequacy of a 900 million euro ($993 million) cash call envisaged by its rescue plan.

In a document published ahead of Friday’s shareholder meeting, Carige said a planned cash call would allow the bank to consistently meet capital requirements set by the European Central Bank.

The Genoa-based bank added its pro-forma core capital ratio (CET1) at June-end would rise to 13.9% after the planned capital increase from 8.2%. The rescue plan envisages a 700 million euros share issue and 200 million euros of new Tier2 capital.

$1 = 0.9060 euros Reporting by Andrea Mandalà

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