Reuters: Financial Services and Real Estate: UBI Banca confirms no need for capital increase

Reuters: Financial Services and Real Estate Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UBI Banca confirms no need for capital increase May 4th 2012, 10:31 MILAN | Fri May 4, 2012 6:31am EDT MILAN May 4 (Reuters) - UBI Banca has no need for a capital increase to comply with European Banking Association (EBA) criteria, the chairman of its management board Emilio Zanetti reiterated on Friday. Core Tier 1 at the end of December stood at 8.56 percent, the bank said in March, adding any capital shortfall to meet the 9 percent target of the EBA will be met by partial conversion of a soft mandatory convertible bond. EBA said in December that the bank needs to increase capital by 1.39 billion euros. (Reporting by Gianluca Semeraro)

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