November 8, 2017 / 5:10 PM / in a year

CORRECTED-Italy's BPER Banca strengthens capital in Q3, approves bad loan reduction goals

(Corrects third paragraph to read “....thanks to a one-off gain.” instead of “...when it was hit by goodwill writedowns...”)

MILAN, Nov 8 (Reuters) - Italy’s sixth-largest bank BPER Banca said its best-quality capital had risen sharply to 13.81 percent of assets in the third quarter after meeting European Central Bank demands.

BPER’s core capital ratio stood at 13.17 percent at the end of June. The ECB has removed some penalising risk weighting measures it had previously imposed on the bank.

The bank said its net profit totalled 149 million euros ($173 million) in the first nine months, up 47 percent from a year earlier thanks to a one-off gain. ($1 = 0.8626 euros) (Reporting by Valentina Za)

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