The ECB has requested more information from Banco Populare and Banca Populare di Milano for some clarifications on their plan to merge, which could delay the announcement of a deal. The two banks have already submitted a revised plan to meet ECB conditions, which includes strengthened capital ratios; reports suggest the merged banks would be worth €1.5bn, and would seek to raise capital by €1bn. The deal, if and when it goes through, will create the third biggest bank in Frankfurt.
The ECB has requested more information from Banco Populare and Banca Populare di Milano for some clarifications on their plan to merge, which could delay the announcement of a deal. The two banks have already submitted a revised plan to meet ECB conditions, which includes strengthened capital ratios; reports suggest the merged banks would be worth €1.5bn, and would seek to raise capital by €1bn. The deal, if and when it goes through, will create the third biggest bank in Italy.