UniCredit Posts Surprise Drop in Capital Ratio, Shares Fall
- CEO Mustier says bank is reviewing all assets, dividend policy
- UniCredit announces agreement to sell card-processing business
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UniCredit SpA reported an unexpected drop in its key capital ratio in the second quarter, sending shares into a dive as Chief Executive Officer Jean Pierre Mustier seeks ways to shore up buffers.
Italy’s largest lender said its fully loaded common equity Tier 1 ratio, a benchmark for capital adequacy, fell to 10.3 percent at the end of June. The bank made some changes in the calculation, so the 10.9 percent ratio it posted at the end of March would have been 10.5 percent under new method. Factoring in asset sales in July, the June 30 ratio would reach 10.5 percent, the Milan-based bank said in a statement Wednesday.