ECB ups Banco BPM's core capital ratio threshold to 8.7% from 8.5%

Reuters

15 December 2022 at 8:05 am

FILE PHOTO: Banca Popolare di Milano (BPM) logo is seen outside the bank in downtown Milan

MILAN (Reuters) - The European Central Bank has raised the minimum core capital requirement at Banco BPM to 8.70% for next year compared with 8.52% at present, Italy's third-largest bank said on Thursday.

Banco BPM, which had a fully-phased best quality capital ratio of 12.39% at the end of September, said it stuck by its goal of a level of more than 13% at the end of the year.

(Reporting by Valentina Za, editing by Gianluca Semeraro)

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