Popolare Bari’s administrator says 1.4 bln euro capital gap is “initial estimate”

Popolare Bari’s administrator says 1.4 bln euro capital gap is “initial estimate”

A potential 1.4 billion euro ($1.6
billion) capital shortfall at Banca Popolare di Bari is a base
assumption which must be confirmed after a due diligence
process, the temporary administrators of the ailing regional
bank said on Wednesday.
Late last year a depositor protection fund financed by
Italian banks committed to covering up to half of an estimated
capital increase of 1.4 billion euros at Popolare di Bari,
approving an immediate cash injection of 310 million euro