Intesa board set to back capital hike

Intesa Sanpaolo’s boards were set yesterday to back a €5bn cash injection as Bank of Italy head Mario Draghi said the country’s lenders’ response to his call for them to boost their capital was “very encouraging”. Traditionally conservative, Italian banks weathered the global financial crisis better than many European rivals. Intesa Sanpaolo, Italy’s largest retail bank, already enjoys a core Tier 1 ratio of 8.1 per cent, which would increase by another 1.5 per centage points once the hike is approved.