THE EVENT: Italian lender Banca Monte dei Paschi di Siena SpA
(BMPS.MI) on Friday said it would issue EUR1.9 billion in bonds
under the country's state-aid plan aimed at boosting capital at the
country's banks.
The so-called Tremonti bonds, named after Italian Economy
Minister Giulio Tremonti, now total close to EUR10 billion, divided
among the following banks.
*INTESA SANPAOLO: Italy's biggest retail bank by market value,
Intesa Sanpaolo SpA (ISP.MI) said a week ago it would seek EUR4
billion in state-sponsored funds after plunging to a EUR1.23
billion fourth-quarter net loss because of write-downs and on
falling commission income.
The move should lift its core Tier 1 ratio, which stood at 7.1%
at the end of December. The bank said it aims to reimburse the
state by June 30, 2013.
*UNICREDIT: UniCredit SpA (UCG.MI) said it would seek up to EUR4
billion in funds from the Italian and Austrian governments after
fourth-quarter net profit fell 57% to EUR505 million because of
pressure on economies in countries where it operates.
According to press reports, UniCredit plans to issue EUR1.5
billion in Tremonti bonds.
At the end of December, its pro forma core Tier 1 ratio was
6.5%, below the 6.7% target it set in October when it launched a
capital strengthening plan worth over EUR6.6 billion.
*BANCO POPOLARE: Italian mutual bank Banco Popolare (BP.MI)
scrapped its dividend and said it would seek EUR1.45 billion in
state funding after posting a fourth-quarter net loss of EUR855.1
million on impairments and falling commissions despite posting a
rise in net interest income.
*BANCA POPOLARE DI MILANO: Italian mutual bank Banca Popolare di
Milano (PMI.MI) said it would take EUR500 million in state funds to
lift its core Tier 1 ratio to above 7.5% from 6.46%. It also plans
to raise up to EUR700 million by issuing a convertible bond to
shareholders.
The Milan-based lender fell to a fourth-quarter net loss of
EUR67.67 million in 2008 from a net profit of EUR21.5 million a
year earlier.
*BANCA POPOLARE EMILIA ROMAGNA: Banca Popolare Emilia Romagna's
(BPE.MI) Chief Executive Fabrizio Viola has said the mutual bank
may seek funds through the government aid package. The bank hasn't
said how much it will take but press reports have put the figure at
EUR500 million.
-By Digby Larner and Sabrina Cohen, Dow Jones Newswires; +33 1
4017 1748; digby.larner@dowjones.com
