Intesa Sanpaolo Group is well capitalized

The Italian banking Group Intesa Sanpaolo, that is also present in Romania,  states that it does not need additional capital. This announcement follows the estimates disclosed by the European Banking Authority on the recapitalization needs of European banks.

Intesa Sanpaolo had a 10.2 percent Core Tier 1 ratio at end-June 2011. This solvency rate would be reduced by 0.2 percent applying to the risk-weighted assets (RWA), while CRD3 provisions would be increased, as requested by the EBA scenario.

Taking into account the capital buffer computed by the EBA against Intesa Sanpaolo’s sovereign risk exposure on the basis of market prices of September 30, the Core Tier 1 ratio would level at 9.2 percent, above the minimum level of 9 percent.
Intesa Sanpaolo states that this is a preliminary result that will be updated with the figures at end-September 2011, and will be analyzed by banks and Supervisory Authorities.

Ovidiu Posirca