BPM is latest Italian bank to seek state aid
FT.com
27 Marzo 2009
Quarta banca italiota a prendersi i Tremonti bonds....
Banca Popolare di Milano became the fourth Italian bank to announce that it would seek state-backed funding from Italy's €12bn bank aid scheme with at least one more bank expected to follow suit in the next few days.
BPM said on Wednesday that it would tap the government scheme for €500m, a move that should give one of Italy's largest regional banks a core tier one capital ratio of about 8 per cent.
The ratio is a key measure of a bank's balance sheet strength. The new capital "will allow the bank to operate better in an environment marked by growing uncertainty", BPM said as it unveiled its 2008 annual results.
The past week has seen a queue of Italian banks tapping the government's scheme, under which the state will buy convertible bonds …
(L’articolo è disponibile previo sostegno)