La Popular Bank of Vicenza closes 2014 with a liabilities of 758,5 million euros. The company communicated it yesterday evening at the end of the Board of Directors meeting which approved the accounts, specifying that they weigh on the result goodwill adjustments for a further 370 million compared to the preliminary resolution on 10 February. In total, therefore, goodwill was written down by approximately 65%, for an amount of 600 million.
As for the capital requirements requested by the ECB, the Board informs that they have already been satisfied from the Bank's pro forma ratios as at 31 December 2014, with the CET1 Ratio standing at 11,34% and the Total Capital Ratio reaching 12,49%, against a minimum target set at 11% for both coefficients by the Supervisory Body.
However, the institute specifies that, according to the ECB, the minimum requirement for the CET1 Ratio could be reduced following the evaluation of the Eurotower itself "with regard to the incorporation in the 2014 consolidated financial statements of the results of the asset quality analysis (AQR)" . The Bank, also on the basis of the ongoing dialogue with the ECB, believes that this reduction will probably be communicated close to the Shareholders' Meeting scheduled for next April.
