The bank, which is due to launch a 3 billion euro capital increase to fill a shortfall uncovered by a Europe-wide health check of the sector, also said late on Wednesday it would launch a reverse stock split giving shareholders 1 new share for every 20 shares held.
The stock opened up more than 1 percent but had pared gains by 0810 GMT, having lost nearly 10 percent earlier this week. Broker ICBPI said the cash call would be very dilutive for existing shareholders.