Intesa Sanpaolo SpA (ISP.MI) said Friday that it meets the capital requirements set by the European Central Bank, and which will go into effect at the start of 2018.
As of Jan. 1, the ECB will require the Italian bank to have a common equity tier 1 ratio--a key measure of capital strength for banks--of 8.145% under the transitional arrangements for 2018. For 2019, Intesa Sanpaolo said that it will need a CET1 ratio of 9.33% under international regulations known as "fully-loaded" Basel III criteria.
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Intesa Sanpaolo said that as of Sept. 30 its CET1 ratio was 13%, while its pro-forma fully-loaded CET1 ratio was 13.4%. Both ratios are on a consolidated basis and are net of around 2.2 billion euros ($2.61 billion) in dividends accrued for the first nine months of the year, the bank said.
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(END) Dow Jones Newswires
December 22, 2017 09:26 ET (14:26 GMT)