Unicredit has billions needed

- The Italian bank Unicredit in its fourth quarter, € 8.1 billion needed for new facilities. Those billions have to cover the risk of bad loans on its balance sheet.

The bank has a market value of € 16 billion reported Thursday. The announcement Thursday came just for its shareholders. The share reached 0.5% in the red, after a steady decline since Monday.

The bank will, according to his statement a total of € 17.7 billion in bad loans lost which is hardly relieved. Through this bundling and as offering value-effects, a sale would be possible, Unicredit claims.

It's a new procedure to minimize problems after a layoff of 6,500 workers. The Italian bank has also planned a rights issue worth € 13 billion. Shareholders were there to give their blessing to Thursday.

The ailing Banca Banca Monte dei Paschi di Siena is € 9 billion capital shortfall. In late December, the Italian State guaranteed € 20 billion to support all banks in the country if necessary.

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