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Press Clipping:
DJ Intesa Sanpaolo CEO Says Bk Didn't Consider Cap Hike
FLORENCE (MF-Dow Jones)--Intesa Sanpaolo SpA (ISP.MI) Chief Executive Corrado Passera Tuesday said the Milan-based lender has never considered a capital hike, dismissing market talks that have been circulating in the last days.
Speaking on the sidelines of an event, Intesa Sanpaolo's top executive also said the bank's capital ratios are in line with previous targets, without further elaborating.
Intesa Sanpaolo, Italy's largest retail bank, is also helping some Italian banking foundations that are currently shareholders of its domestic peer UniCredit SpA (UCG.MI) to finance its capital strengthening plan.
Passera Tuesday confirmed reports that the bank is helping some banking foundations but refused to reveal more information. "We are a bank that provides funds to our clients when they ask us for funding," Passera said.
Some UniCredit shareholders have pledged to subscribe a banks' rights offer of up to EUR500 million, as part of a wider EUR6.6 billion capital strengthening plan.
Source: Dow Jones NewsPlus. -By Sabrina Cohen, Dow Jones Newswires |
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