Unicredit board of directors: start of the 7,5 billion capital increase, in the quarter a maxi loss of 10,6 billion

Ghizzoni: "We will become one of the most capitalized banks in Europe" - The institute's Core tir 1 rises to 10,35% - In 2012 no dividends will be paid on 2011 - The Bank's accounts are affected by write-downs of an extraordinary nature and "non-repeatable" for a total of 10,167 billion.

"A capital increase of 7,5 billion, fully guaranteed by the consortium that assists us, which makes us one of the most capitalized banks in Europe“. This is the decision taken today by the Unicredit Board of Directors. This was announced by the managing director of the group, Federico Ghizzoni.

Thanks to the operation, the Bank's Core Tier 1, according to the principles of Basel II, goes up to 10,35%. In 2012 UniCredit will not pay dividends on 2011, while during the plan Ghizzoni underlined that the payout will be "on average higher than that of the sector, of our main competitors".

As for the quarterly accounts, Unicredit has recorded a maxi-net loss of 10,641 billion, due to write-downs of an extraordinary and "non-recurring" nature for a total of 10,167 billion. Numbers that caused the share to collapse on the stock exchange, losing over 7%, with a minimum value of 0,7455 euros.