Banco Popolare sees 2012 net loss of 330mn euros

MILAN: Italian cooperative lender Banco Popolare said on Monday there could be a difference between the market's consensus estimate for 2012 results and its own forecasts.

In a statement, the bank said that on the basis of internal estimates it expected to post a net loss for last year of around 330 million euros ($429.31 million).

Banco Popolare said the difference with the consensus forecast was due to the amount of losses at its subsidiary Agos-Ducato and an increase in the cost of credit in the fourth quarter.

The bank confirmed its expectations for a Core Tier 1 ratio above the minimum target set by the European Banking Association.